November 26, 2020

The Chicago Mercantile Exchange has set a new record for Bitcoin trading

On the site, investors' open interest incryptocurrency reached $ 724 million due to its growth above $ 11,000. The daily trading volume of BTC futures increased by 350% compared to the monthly average.

Volume of open positions for buying and sellingbitcoin on the Chicago Mercantile Exchange (CME) set a new record. This value rose to $ 724 million. The previous maximum was reached in May at $ 532 million, reports The Block.

The increase in the volume of open positions on CME was caused bythe rapid growth of the first cryptocurrency rate. Last night, the bitcoin price surpassed the $ 11,000 mark. At the same time, the daily trading volume increased significantly on the site. This figure rose to $ 1.3 billion with a monthly average of $ 276 million.

A surge in user activity has occurredalso at another regulated site Bakkt. Yesterday the company reported a record trading volume of $ 114 million. But this is still a marginal result when compared to other exchanges where BTC contracts are traded.

Bitcoin price climbed to $ 11,400 overnight. This led to a massive liquidation of the bearish traders. The exchanges were forced to shut down "shorts" for $ 522 million in cryptocurrency.