{"id":48261,"date":"2018-04-27T23:14:37","date_gmt":"2018-04-28T06:14:37","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=48261"},"modified":"2019-11-07T02:56:10","modified_gmt":"2019-11-07T02:56:10","slug":"bitcoin-futures-posting-new-highs-in-daily-volume","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-futures-posting-new-highs-in-daily-volume\/","title":{"rendered":"Bitcoin Futures Posting New Highs In Daily Volume"},"content":{"rendered":"

When Cboe and CME launched their Bitcoin futures products last year, many saw it as a monumental occasion for the digital currency. After nearly a decade on the fringes of the financial system, mainstream investors were finally welcoming Bitcoin<\/a>.<\/p>\n

The event was front-page gossip on the Wall Street Journal, and pundits across the internet fought to accurately predict just how transformative this investment opportunity would be. Some thought that futures contracts would be a short step to broader adoption among big banks and others saw it as a way to get traditional stock investors engaged in crypto markets.<\/p>\n

Everyone thought they would be indelibly popular.<\/p>\n

In reality, crickets…<\/h2>\n
\"Bitcoin
Related Story:\u00a0Bitcoin Futures Contracts Underwhelm In First Month of Trading<\/a><\/figcaption><\/figure>\n

To be sure, the initial wave of interest<\/a> was robust. On their first day of trading, Cboe \u2018s website almost immediately crashed as investors rushed to pick up this new investment opportunity.<\/p>\n

It had all the trappings of a new iPhone release if iPhones became unpopular within a week.<\/p>\n

Since then, Bitcoin futures markets have received little attention from investors or pundits. The collective attention of the crypto community turned to the rapidly digressing markets and impending fears about regulation.<\/p>\n

Record-Setting Daily Volumes<\/h2>\n

On Tuesday of last week, Bitcoin Futures roared back to life. They enjoyed their highest daily volume since they launched back in December.<\/p>\n

The numbers are impressive. According to Kevin Davitt<\/a>, senior instructor at the Cboe Options Institute,<\/p>\n

\u201cMay futures traded 18,210 contracts and\u2026a total of 19,000 Bitcoin Futures traded here [on Wednesday].\u201d<\/p><\/blockquote>\n

Investors traded more than 4,000 more contracts than the previous, January 17th, high session. This was the first expiration for Bitcoin Futures, and those contracts anticipated a 20% reduction in Bitcoin\u2019s price.<\/p>\n

According to the Cboe\u2019s official Twitter<\/a> account, Bitcoin Futures traded at three times their average daily volume.<\/p>\n

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$XBT<\/a> #BitcoinFutures<\/a> highest daily volume – 3X normal ADV, @kpdavitt13<\/a> details high volume & ranges in the underlying, #Cryptocurrency<\/a> trending higher: #bitcoincash<\/a> $BCH<\/a>, $EOS<\/a> market cap https:\/\/t.co\/3ZUS3ZwPxT<\/a> #crypto<\/a><\/p>\n

— Cboe (@CBOE) April 26, 2018<\/a><\/p><\/blockquote>\n