Europeans Use BitMEX The Most To Trade Bitcoin Futures: Analysis

In the past month, Europeans became extremely dynamic for bitcoin futures trading on BitMEX. It turns out in the latest data analysis, that Europeans use Bitmex for bitcoin futures trading the most and we can see more about it in the upcoming bitcoin news.

Activity is still lower taking into consideration the peak trading periods. Although Europe was one of the stronger crypto spaces in the past year. The banking services that are more favorable, also the growing wealth and the technology sector, influenced European interest in crypto trading positively.

In 2019, trading bitcoin positions also cached up before “hodling” behavior, thus a different type of speculative buyers were invited. BitMEX is one of the most active Bitcoin markets, which adds to the dominance of futures for Bitcoin price discovery.
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The currency of the European Union, the Euro has a 1.45% share of bitcoin trading on the spot markets, while the positions of the US dollar are still seen as the leading pair. But Europe is still not totally free when it comes to Bitcoin and cryptocurrency exploitation. Stern KYC regulation is in force, and still, sterner monitoring could be enforced in the future months. This had led to some crypto payment services as BottlePay to shot down because of highly restrictive AML legislation.

Companies established in Europe would be enforced to employ the new standard of anti-money laundering regulations as of January 10^th, 2020, which would put an unbearable loan on smaller companies. Even LocalBitcoins increased its requirements to fulfill the company’s Finnish registration and EU regulations.

But while BitMEX is closed in Europe, Europeans use BitMEX since it is available to international traders. Crypto to crypto exchanges also leave out US traders due to strict rules but for now, cope with serving European accounts. Nonetheless, the crypto sector is cyclical and it is probable for some firms not to survive.

At the same time, Christine Lagarde the President of the European Central Bank had spoken in a good manner for implementing a cryptocurrency approach. Lagarde, the former head of the IMF, stated that the European Central Bank must “stay ahead of the curve” by making a stablecoin.