On Wednesday, BitMEX, which is the world’s single biggest bitcoin derivatives provider, reported more than $1 billion of open interest on the market. Trading topped $13 billion, with the number topping $16 billion across the platform’s product range.
“XBTUSD perp swap open interest is now in the 3 comma club. Welcome to the 2019 bull fucking market YeeHaw!” he excitedly summarized.
BitMEX’s successes follow on from records across bitcoin trading, with bitcoin futures provider CME Group similarly reporting all-time volume highs this month and last.
While analysts remain divided over which investor segment – retail or institutional – is propelling the current bull market, Hayes is gearing up to defend the newly-bullish bitcoin against one of its arch rivals.