Cryptocurrency
BitMEX cedes bitcoin futures market dominance as Binance, Huobi, and OKEx inch ahead
As reported on The Block, “BitMEX – the marketplace that once dominated the bitcoin derivatives trading market with its perpetual swaps product – has seen its market share slide since March 12’s market sell-off. “Data from analytics provider Skew indicates that the crypto derivatives exchange’s daily BTC futures trading volume (perpetual swaps included) dropped significantly […]
As reported on The Block, “BitMEX – the marketplace that once dominated the bitcoin derivatives trading market with its perpetual swaps product – has seen its market share slide since March 12’s market sell-off.
“Data from analytics provider Skew indicates that the crypto derivatives exchange’s daily BTC futures trading volume (perpetual swaps included) dropped significantly on March 14. This was two days after bitcoin’s price fell nearly 50% at one point.
“Meanwhile, Huobi, OKEx, and Binance have all surpassed BitMEX in daily trading volume during the same period.
“Take April 7 as the latest example. Binance, Huobi, and OKEx saw $3.1 billion, $2.6 billion, and $2.3 billion in total bitcoin futures trading volumes, respectively, on that day. BitMEX trailed behind them with $2.2 billion in trading volume…”