New all-time high in bitcoin volume

New all-time high in bitcoin volume – institutional investors grab FOMO

Institutional platforms see all-time highs in crypto trading volume.
Both CME Bitcoin Futures and the LMAX Digital exchange recorded volumes of $2.7 billion and $2.6 billion respectively.
In addition to the all-time high in prices, this indicates a growing institutional interest in cryptocurrencies.

Now that institutions Bitcoin Code have firmly entered the cryptocurrency market (with several companies buying bitcoin at over $1 billion), we are also seeing record-breaking trading volumes.

As the technology matures and the world faces economic and social problems due to a pandemic, many institutions have begun to view Bitcoin and other cryptocurrencies for what they were created to be: a potential value disruptor.

According to Skew, both CME bitcoin futures and volume on LMAX Digital have reached an all-time high in trading volume.

CME bitcoin futures recorded $2.7 billion in trading volume, while LMAX Digital recorded $2.6 billion in volume – both new records.

As analyst and investor Joseph Young commented in a tweet:

„Institutions ARE here. – CME bitcoin futures volume hit an all-time high today at $2.7 billion. – LMAX Digital (institutional platform) hit ATH volume at $2.6 billion.“

The fact that institutional investment platforms and products are seeing all-time highs in volume while Bitcoin is at the highest price in its history is an extremely bullish sign for cryptocurrencies. This increased volume alongside stable price growth shows a positive and strong outlook for the market.

It has been a common cliché within the cryptocurrency ecosystem to consider institutional investors as one of the key catalysts for mainstream adoption. Moreover, institutions have billions of dollars with which to invest – amounts that dwarf the capabilities of most retail investors.

This surge in institutions sets a precedent for the future of cryptocurrencies

This is especially true for Bitcoin (Go to Buy Bitcoins with Instant Bank Transfer Guide) as the world begins to view it as a legitimate hedge against fiat currency.

There are many factors responsible for this surge in cryptocurrency growth and adoption, but one of the most important is the vocal and financial support of people like Michael Saylor.

Saylor, CEO of MicroStrategy, has become one of Bitcoin’s strongest supporters. Originally a Bitcoin sceptic, Saylor has now invested over $1.3 billion in Bitcoin on behalf of MicroStrategy, one of the largest business intelligence firms in the world – and he has personally put $100 million or more of his own money into Bitcoin.

MicroStrategy isn’t the only company aggressively pursuing Bitcoin, either. Since MicroStrategy’s purchase, many other companies have bitten the apple and decided to diversify into Bitcoin.

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