Cryptocurrency exchange Binance surprised analysts this week after its Bitcoin futures set an unlikely trading record.
BINANCE BUCKS NEGATIVE MARKET MOOD
According to data from market analyst Skew on October 15, Binance’s BTCUSD product traded over $700 million on Tuesday alone.
The figure marks a new record for the exchange, which debuted its futures last month. Its timing, however, was what raised eyebrows among commentators.
As various resources show, overall Bitcoin trading has hit uninspiringly low levels in October. Among them were other Bitcoin futures offerings. Bakkt, which also launched in September, conversely traded just 10 BTC in the 24 hours to press time.
An identical pattern is repeating across consumer Bitcoin exchanges. Peer-to-peer platform Localbitcoins, for example, saw just $41 million change hands in the seven days ending October 12. Read More...