The Block: CME’s Bitcoin futures to post the biggest trading month this May
|- Bitcoin CME futures might have recorded a new average daily trading volume record, according to a report by The Block.
- May 13 was the best trading day for CME Bitcoin futures to date.
According to a new report released by The Block, the month of May is likely to be the biggest month for CME Group Bitcoin futures trading. The report published on May 21 cited data from an external email from CME Group.
The exchange is reported to have recorded a new average daily trading volume high for Bitcoin futures. In fact, the report says that a new high could have been achieved at 14,000 contracts in May alone. May 13 was the best trading day for CME Bitcoin futures to date. The platform recorded 33,700 contracts traded worth $1.35 billion (at the time). In addition to that, the number of futures trading accounts has gone up significantly to 2,500.
The report also indicates that CME has traded a total of 1.6 million BTC futures since the day of its launch in December 2017. The exchange accounts for more than $50 billion in notional value.
The market has been trending higher in 2019. Cryptos are attempting to reverse the downtrend that lasted all through 2018. Bitcoin has within two months surged from $4,000 to $8,500.
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