RATE Group | BitMEX Sets New Record After Posting $8 Billion In Daily Volume
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BitMEX Sets New Record After Posting $8 Billion In Daily Volume

27 Jul BitMEX Sets New Record After Posting $8 Billion In Daily Volume

Posted at 05:18h in Ethereum News by

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As covered by Ethereum World News on Tuesday, Bitcoin saw an astonishing price surge, quickly reaching an $8,400 high, which is also the highest the foremost cryptocurrency has been in two months. Many attributed this quick run-up to a series of positive technical and fundamental indicators that show that things are beginning to look up for this heavily-battered industry.

What accompanied this price surge was a huge wave of volume from retail and institutional investors sitting on the sidelines. As Bitcoin rose, users regained faith in this market, causing a pseudo snowball effect, with Bitcoin quickly surpassing heavily contested resistance levels with gargantuan amounts of money flowing through these markets.

According to a recent tweet from the BitMEX exchange, which has grown popular for offering leverage trading (up to 100x), during the aforementioned surge, BitMEX set an industry record for Bitcoin trading volume.

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