Bitcoin futures hit record trading volume on April 4, CME Group reports

06 Apr, 2019 | Updated: 06 Apr, 2019
by Richard Allen
Bitcoin
Bitcoin futures hit record trading volume on April 4, CME Group reports

According to a recent tweet, leading US derivative market, CME Group reported a record trading volume of its Bitcoin futures.

As the tweet states, the volume of its Bitcoin futures hit an all-time high of over 22,500 on April 4, which is the equivalent of around 112,700 BTC. The previous record was set on February 19 which saw over 18,300 contracts, equivalent to 64,300 BTC.

Between Tuesday and Wednesday of this week, Bitcoin gained over 27%. Fundstrat’s Tom Lee commented on this stating since Bitcoin has broken its 200-day moving average, it's now in a bull market.

Read more: Thomas Lee: "Bitcoin is now in a bull market"

Additionally, last month news broke that UK-based crypto exchange and futures provider Crypto Facilities saw trading volume rise by 500% after it was acquired by Kraken.

CME Group’s CEO, Terry Duffy recently commented that Bitcoin’s finite supply poses an issue for regulators. The supply cap doesn’t suit modern economic theories which governments use to print additional money whenever they need it.

“The governments can’t run unless they can run on a deficit,” he said.

Read more: CME Group's CEO on why regulators hate Bitcoin: It has finite supply

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