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BitMEX’s trading volume reaches $1 trillion

Updated: Jul 25, 2024
Published: Jul 1, 2019
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Bitcoin may not have hit an all-time high but BitMEX’s trading volume has. Over the past 365 days, over $1 trillion has been traded on the exchange. BitMEX is a very popular exchange among cryptocurrency traders as it has multiple features that appeal to a lot of traders, especially leverage trading. Another important aspect to keep in mind is that BitMEX has not suffered any hack, unlike many other top cryptocurrency exchanges. BitMEX has a staggering 55% market share, compared to the 2.5% market share of the CME.

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The news was celebrated by BitMEX’s founder and CEO, Arthur Hayes, through a tweet in which he also mentioned his meeting with American economist, Nouriel Roubini, next Wednesday (3rd of July 2019). The latter is also known as “Dr. Doom” due to his constant negative comments about the cryptocurrency space.

BitMEX Research had tweeted about the open interest reaching $1 billion on the exchange, to which Roubini replied: “How can one believe ANY of these figures when 95 percent of all bitcoin transactions on a typical exchange are fake? Fake-coins, shit-coins, fake-transactions, fake-pricing. The only true thing in crypto space is manipulation, pump n dump, front-running, wash trading, etc…”. Arthur Hayes response was to invite him to check the data with his bankers. As a result, the two well-known figures will be debating live during the “Asia Blockchain Summit.

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