May was the best month for Bitcoin futures on CME exchange since its launch in 2017, because of the 31-day period, traders held nearly 300,000 contracts.
Average daily volume (ADV) reached more than 13,600 contracts, equivalent to a face value of $515 million or equivalent 68 000 Bitcoins, which is 27% more compared to April. 13 may saw a record level of futures trading on Bitcoins, amounting to 33 677 contracts (168 000 equivalent Bitcoins with a nominal value of us $1.3 billion). 28 may the number of open contracts also reached a new record 5 190 contracts.
It may be a sign of rising institutional interest because in may there was added 223 of the trade account, which is the highest monthly figure since January of 2018, according to research conducted by CME Group.
The monthly increase in volumes
In may, noted a 27 percent increase compared to the previous month and 73,69% increase in March 2019, which indicates a constant growth of interest in futures on Bitcoins.
Although the volume is the number of contracts traded per day and after each session, the index starts from zero, on the other hand, the indicator of the open interest shows the number of contracts that have been created and are public.
The first Bitcoin futures listed on the CME in the midst of a bullish trend in December 2017. However, the activity on the futures market remained dull until 2018, because of the General decline. However, recent data indicate the growing interest as more firms use the tool to manage risk or speculate on currencies.
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Tags: Bitcoin CME