Bitcoin futures trading volume tops $40 billion amid price rally

On Monday, July 27, daily bitcoin futures volumes surged as BTC price rose, exceeding $40 billion. Data from analytics firm Skew show.

This figure came close to the all-time high of $50 billion, reached on Black Thursday, March 12. In July, volumes generally did not exceed $10 billion.

Volumes on Tuesday, July 28, fell to $30 billion. More than $16 billion of this came from Huobi, OKEx and Binance, while BitMEX, bitFlyer and Bybit accounted for more than $7 billion.

The cryptocurrency platform Bakkt also reported two consecutive record days. On July 29, there were 11,706 open positions, equivalent to $125 million in Bitcoin.

Talk about momentum!

We beat yesterday’s record with 11,706 Bakkt Bitcoin Futures traded today — that’s over $125MM of bitcoin

— Bakkt (@Bakkt) July 28, 2020

Open interest in bitcoin futures rose above $5 billion, surpassing the Black Thursday record. Leading the metric were OKEx ($1.22 billion), BitMEX ($0.99 billion) and Huobi ($0.74 billion).

The day before, the regulated exchange CME registered a record for futures trading at $724 million.

Earlier on Tuesday night, the price of Bitcoin reached a fresh high not seen since September 6, 2019, at $11,417.

Follow ForkLog news on Facebook!