Record of April: CME registered record trading volumes on cryptocurrency market, while the cost of popular cryptocurrencies increased significantly. Coinmarketcap reported that new record trading volumes on cryptocurrency market in recent days showed an average of 78.53 billion dollars worth of trading per day. This time the last record on January 5, 2018 was broken, and was exceeded by more than 10%, amounting to about 70 billion dollars.
While many people did not expect anything interesting from cryptocurrency market, the volume in these markets has gradually increased, and in this April a new record daily volume of global cryptocurrency trading was pointed. CME (Chicago Mercantile Exchange) record trading volumes on cryptocurrency market in addition to the Cumberland trading department, in its futures contracts at BTC, reported the arrival of more than 1000 orders for the purchase of Bitcoin.
This shows us that a virtual monetary ecosystem has significant power that has not yet demonstrated its full potential, since it is the crypto monetary system that is still in its early stages of development. All the strength of a cryptocurrency ecosystem will be able to manifest itself in the future, gradually revealing its potential.
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New high in history for cryptocurrency trading
At the time when this article is written, the largest volumes show BTC and USDT, which have approximately equal trading volume, respectively 21.7 billion dollars and 25.3 billion dollars. Apparently the record trading volumes on cryptocurrency market was caused by a significant increase in interest in the USDT, which exceeded the volume of Bitcoin trade on April 3 and 4. These days have become a record today in the field of cryptocurrency trading.
During the 24 hours of April 8-9, almost $ 16 billion were sold for each of both cryptocurrencies: BTC sales were 15.74 billion dollars, and USDT was sold for 15.81 billion dollars.
Also on April 4, the maximum number of futures contracts on the CME was recorded when there was a record trading volumes on cryptocurrency market. The number of futures contracts amounted to 22,500 units, which is equivalent to 112,700 contracts for Bitcoin, which was also a record in the entire history of trading on the crypto exchange.
A sharp jump in demand for cryptocurrency began on April 1. Cumberland reported that a large number of orders for the purchase of BTC were completed on its trading table within one hour. Executive Director Binance said, speaking at CNBC, that on their platform in recent days, when record trading volumes on cryptocurrency market, a record number of orders was recorded, which exceeded the number of January 2018.
These events have proved once again that the potential of the cryptocurrency market has not yet been fully revealed, but is only in the embryonic stage, when it can be expected to make any turns. Such events occur periodically, keeping up the increasing trend. Despite the high volatility of cryptocurrencies, they continue their upward movement and most importantly they keep their position in the financial world.
If you think that cryptocurrency will help you improve your business with your finances in the future, then read our financial blog to learn more about it.