BitMEX Records $534 Million in Fund Outflows in July

Crypto derivatives platform BitMEX has recorded an outflow of $524 million from its trading platform in July, making it the worst month for the exchange.

According to the data compiled by TokenAnalyst, the outflow of funds on the derivatives exchange remained on the upper side than inflows. However, last month, this figure skyrocketed from below $100 million in the previous month.

On the contrary, last year despite the dominance of bear on the crypto trading market, the exchange brought in $1.3 billion in funds and the inflow of funds was always greater than the outflow from the exchange.

2018 brought in $1.3B, and there was not a single month where outflows were greater than inflows.

Doom of a mammoth?

Seychelles-registered BitMEX is one of the largest crypto derivatives platforms, onboarding traders mostly from Asian markets. It offers leverage up to 100x for its futures contracts. According to its website, the platform handled $5.32 billion worth futures contracts trades in the last 24 hours, while the figure for the last 30 days is $136.63 billion.

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