RATE Group | BitMEX Cryptocurrency Exchange Holds 0.18% of All Bitcoins in Circulation
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BitMEX Cryptocurrency Exchange Holds 0.18% of All Bitcoins in Circulation

27 Dec BitMEX Cryptocurrency Exchange Holds 0.18% of All Bitcoins in Circulation

Posted at 14:21h in Bitcoin News by

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BitMEX, the world’s largest cryptocurrency exchange by daily trading volume to date, now holds 0.18% of all Bitcoins (BTC) in circulation. 

In a Dec. 26 tweet, James Lopp, CTO at New York-based crypto custody startup Casa, also pointed out that BitMEX’s dedicated insurance fund has surged 62% in 2019.

BitMEX holds 33,449 Bitcoins out the 18.1 million mined to date

According to daily historical records of BitMEX Insurance Fund, the balance of the fund has grown from 20,776 BTC on Jan. 1, 2019 to 33,449 BTC on Dec. 26, worth around $239 million at press time.

As such, the world’s top Bitcoin exchange now owns nearly 0.2% of all 18.1 million bitcoins mined to date.

Bitcoin in BitMEX Insurance Fund (January–December 2019)

Bitcoin in BitMEX Insurance Fund (January–December 2019). Source: Twitter

BitMEX Insurance Fund is used to alleviate unfilled liquidation orders

The BitMEX Insurance Fund is used by the crypto exchange to avoid auto-deleveraging in traders’ positions and alleviate unfilled liquidation orders before they are taken over…

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