The price of Bitcoin rose significantly in January, as the Chicago Mercantile Exchange (CME) also set records for trading Bitcoin (BTC) futures in the same month.
a representative of the Chicago Mercantile Exchange told Coin Telegraph: In January, Bitcoin's average daily trading volume reached a monthly record of 17,549 contracts (equivalent to 87.7 thousand Bitcoins). Each Bitcoin futures contract on the Chicago Mercantile Exchange is worth 5 Bitcoins paid in dollars.
the representative added: In December 2020, the average daily volume of Bitcoin (ADV) was 11,179 contracts (equivalent to 55.9 thousand Bitcoins). This represents an increase of 57%.
In January, the price of Bitcoin rose from $ 30,000 to nearly $ 42,000, according to Trading View data. And the previous month, the asset had broken a long-standing record high of around $ 20,000, rising to nearly $ 30,000 by the end of 2020.
where a representative of the Chicago Mercantile Exchange said: We continue to see strong interest in our Bitcoin futures, with 528 record accounts added in January, helping to lift the average Bitcoin's daily trading volume to a monthly record of 17,549 contracts (equivalent to 87.7 thousand Bitcoin), an increase of 63% year-on-year.
The Chicago Mercantile Exchange Bitcoin Futures Trading product has gained a significant number of users since its inception in December 2017. More than 7,400 unique accounts have been active and traded since its launch, according to a recent report showing the numbers as of February 17th.
The report added that 733 were added in 2021, an increase of 2.3 times over the year 2020.
Bitcoin has recently plunged by more than $ 13,000 from its last record high, although the asset has regained some steam since then, trading at around $ 49,200.
