Hong Kong-based crypto derivatives exchange FTX saw record volumes in ether (ETH) futures on Wednesday amid a sell-off in the cryptocurrency’s price.
Daily trading volume on the nine-month-old exchange jumped to a lifetime high of $245 million, marking a 51 percent increase from Tuesday’s volume of $162 million, according to Skew Markets. The previous record high of $189 million was reached on Feb. 20.
While volumes on FTX spiked, the cryptocurrency’s price fell by 10 percent from $251 to $215 to hit the lowest level since Feb. 8.
Trading activity has been rising since early January and has witnessed spectacular growth over the last four weeks, as seen below. Read More...