The latest rally of Bitcoin’s price has caused the volume of CME Bitcoin futures contracts to surge, trading upwards of $683 million. This marks an increase of around 950 percent since the beginning of the month.
CME Bitcoin Futures Volume Soars
Leading derivatives marketplace CME Group has seen a massive increase in the number of Bitcoin Futures contracts, fueled by the latest price rally.
Yesterday, April 4th, CME traded upwards of $563 million worth of Bitcoin futures contracts.
The total number of contracts traded on the platform was 22,542. According to the contract specifications, each one of them represents 5 BTC. Given that Bitcoin was trading at around $5,000 throughout the day, this gives us a total volume of around $563 million.
More interestingly, the amount traded on April 4th is approximately 950 percent higher compared to that at the beginning of the month, when only 2162 contracts were traded
Bitcoinist reported that CME saw a daily all-time high of over 18,000 contracts trading on February 19th….