BitMEX, the crypto-coin trading platform, has just announced that it has broken the industry record for bitcoin trading volume, with more than 1 million bitcoin traded on the platform in 24 hours for the period closing July 24, 2018.
The 1,041,748 bitcoin traded on BitMEX shattered its previous record of 800,000 bitcoin traded within 24 hours. The landmark moment for the cryptocurrency industry comes as the bitcoin price continues its upturn to more than $8,000 USD.
The platform broke its own record with the addition of 200,000 Bitcoin to its previous record.
The platform announced the record break on Twitter:
“A new record, near 900,000 XBT traded on $XBTUSD alone, > $7BN notional. Over $1BN in just one hour. Total exchange volume is inching close to 1,000,000 XBT. Thanks to our users and congrats to our engineers for delivering the capacity to make this possible!”
BitMEX CEO and Co-founder Arthur Hayes said:
“The astronomical surge in trading volume, coupled with the steadily rising price of bitcoin, is reflective of the market’s increasingly sophisticated understanding of the potential of bitcoin to redefine global markets. The achievement was also largely thanks to ongoing capacity increases accomplished by scaling our engine architecture.”
The record-breaking 24 hours follows news of BitMEX becoming the first crypto-coin trading platform to hit a daily trading volume over $1 billion USD. In addition to Bitcoin, the trading platform also lists futures contracts on a number of other crypto-coins, such as Bitcoin Cash, Ethereum, Tron, and Ripple.
“The record that BitMEX has set marks a major milestone in the cryptocurrency industry’s overall path to maturation. I am delighted that BitMEX’s easy-to-use and highly secure trading application has helped to onboard yet another tidal wave of people from all around the world to the crypto market and given them the confidence to participate on the largest scale ever seen,”
The company’s XBTUSD market is notably the most liquid in the world, with 1500% more Bitcoin to USD liquidity than any other platform.