CME Bitcoin Futures Record Over $ 1B in Daily Volume As Interest Rises

With the rise in Bitcoin prices in 2020, so does the interest in futures trading. A few days ago, for example, CME posted one of its best trading days with more than $ 1 billion in daily volume. Other big names in Bitcoin futures trading, including BitMEX and Binance, are also noticing impressive volumes lately.

The Chicago Mercantile Exchange (CME) opened its Bitcoin Futures platform in late 2017. It is a regulated establishment that allows contracts to be settled against the USD. Since 2017, it has enjoyed steady volume flows. However, with the start of this year, following the rise in Bitcoin prices, the volume has continuously increased.

CME Bitcoin futures volume spikes

Earlier this week, CME Bitcoin Futures recorded a daily volume of approximately $1,1 billion, according to data from the popular monitoring resource Bias . This is only the third time in its history that volume has exceeded the coveted $1 billion mark.

Data from the CME website indicates that the total number of contracts traded exceeds 23,000. It's worth noting that each contract represents five bitcoins. Some members of the community argue that the price increase of the largest digital asset isn't the sole reason. They point to other factors, such as the upcoming Bitcoin halving , as potential game-changers.

Scheduled to take place in less than three months, the Halving is one of the biggest events of the year for the cryptocurrency space. As such, it draws a lot of attention to Bitcoin and the entire market. Likewise, most of the Bitcoin margin trading platforms also see a serious increase in their volumes. For example, the leading futures exchange by volume, BitMEX, continues to boast a daily trading volume of more than $ 4 billion.