Bitcoin CME futures hit $530 million worth of trading volume

Bitcoin CME futures hit $530 million worth of trading volume

Bitcoin has been achieving significant gains for the past two weeks. At the time of writing, Bitcoin has been trading at $8,264 with a daily transaction volume of $5.2 billion.

Having said that, this Tuesday had been a crucial day for Bitcoin bulls as that was the day when it jumped $8,000 mark in two months. Starting the day at $7,730, it ended the day at $8,230.

Apart from Bitcoin prices, the trading volume of Bitcoin futures on CME also hit record volumes, as Wall Street participants beginning to enter the market. The volume reached 12,878 contracts where each contract represents 5 BTC and hence equals to 64,390 BTC registering a value of $530 million.

$530million is a fraction of the daily $5billion Bitcoin trading volume, but I expect there shall be a lot more traction in the Bitcoin futures space going forward.

Risk On!