Bitcoin trading platform BitMEX has gained unlikely positive publicity from the launch of Bitcoin futures by its rival Bakkt.
BitMEX In Driving Seat For Bitcoin Liquidity
According to fresh data from the company, 24-hour volumes on September 23 hit 270,000 BTC ($2.6 billion) – while Bakkt’s was just 71 BTC ($690,000).
The giant gap in activity is a boon for BitMEX and cryptocurrency industry financial businesses in general. That was according to VanEck digital asset director Gabor Gurbacs, who commented on the volume statistics on social media.
While everyone celebrates legacy futures exchanges trading #bitcoin, @BitMEXdotcom quietly traded 270,000 BTC ($2.7 billion) in the past 24 hours. Don’t underestimate crypto native platforms. In some respects, they are ahead of the game. Liquidity is king! @CryptoHayes
— Gabor Gurbacs (@gaborgurbacs) September 23, 2019
As Bitcoinist reported, Bakkt finally launched this weekend, after months of speculation and delays as executives attempted to iron out regulatory hurdles.