According to new research by CME Group’s bitcoin futures, the daily bitcoin volume has spiked 93% in the second quarter over the previous quarter. The open interest, on the other hand, posted a 58% increase as the company announced on Twitter.
The average daily volume also rose from 1,854 in the first quarter of 2018 – to 3,577 in the second quarter – and the open interest rose from 1,523 to 2,405 in the same period.
The CME Group’s findings were focused on the CF Bitcoin Reference Rate (BRR) and the CME CF Bitcoin Real-Time Index (BRTI) which are both standardized reference rates and spot price indices. Speaking of which, the indices right now have independent oversight and are meant to accelerate the professionalization of Bitcoin trading.
As CME CF announced, the indices have produced the BRR and BRTI rates since November 2016 with numerous Bitcoin exchanges and trading platforms – mostly from Bitstamp, Kraken, itBit and GDAX – all of which providing pricing data.
The BRR price has risen over the past 4 days, going from $6717.69 on July 17th – to $7361.88. While the BRR rate was $7361.88, the BRTI rate rose to $7398.10.
There are also Ether-dollar indices on CME, which were $460.86 while the Ether dollar real-time index was $462.41 at the time of writing.
Meanwhile, both CME and Chicago Board Options Exchange (CBOE) are the only US-regulated exchanges offering Bitcoin futures products.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post