- CME, the opening of Bitcoin trading options has caused a chain reaction, which has in turn aided in the enormous growth of Bitcoin trading volume.
- The CME platform based out in Chicago opened Bitcoin trading options on its platform in the evening of Monday.
- The initial trade of Bitcoin on the CME platform opened with low volume as compared with Deribit and OKEx.
CME is the largest trading platform, the opening of Bitcoin trading options has caused a chain reaction, which has in turn aided in the enormous growth of Bitcoin trading volume and the market volume says, analysts and market watchers. This has seen a spontaneous and rapid increase in trading volume and price per trade.
On 14th of January, the total amount of Bitcoin stood at $22 Billion, with a market cap of $147 Billion and started the trade at $8,135, however after the announcement of opening trade on CME on the same day, both market and volume have boomed up to almost 25% each respectively. On 15th market cap stood at $159 billion and total amount stood at $39 Billion.
The CME platform based out in Chicago opened Bitcoin trading options on its platform in the evening of Monday. This has added to the already existing spoof of Bitcoin growth.
Still, the initial trade of Bitcoin on the CME platform opened with low volume as compared with Deribit and OKEx, which comparatively opened with much larger trading volume.
Being the epicentre of trading, Chicago Mercantile Exchange drew much attention when it opened doors to the cryptocurrency when it previously traded with regulated stocks and assets.
Chicago Mercantile Exchange (CME) is one of the oldest trading platforms, it started in the year 1898 under the name Chicago Butter and Egg Board which mainly focused on agricultural trading as a non-profit organization, soon later it started with regulated assets.
Now it stands as one of the largest trading platforms also providing related financial advice and necessary tools. The recent tweet by Deribit exchange handlers on the trading volume of Bitcoin represents an added advantage over CME Bitcoin options due to its lower trading volume.
However this note was soon discussed by expert analysts and financial heads that CME trading volume will soon reach newer heights and will pave for a new mark, but for now, Deribit exchange owns the upper hand.
The news on the Bitcoin options trading has created a spiral on its enthusiasts, and it received a positive response on the future of Bitcoin.
This is backed by the recent breakthrough over $8000 mark at the start of the year, although Bitcoin is floating below its all-time $8900 of this year, the much needed exponential growth is soon to speculate head analysts and enthusiasts.
The brand new volume growth on OKEx trading platform shows that the Asian investors and market watchers are very much into cryptocurrency and their very activity on the Bitcoin market could be the main reason why Bitcoin set to rocket the crypto market.
The adding trend of upward momentum on Bitcoin shouldn’t be considered as the final result; the hurdles of volatility and irregular moving patterns should very much be taken into account.
The present Bullish trend shouldn’t be regarded as the last element. However, Bitcoin projected to maintain the Bullish trend for some time.