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CBOE Saw Its Highest-Ever Bitcoin Futures Volumes Yesterday

Cboe saw its highest-ever bitcoin futures volumes yesterday

CBOE Saw Its Highest-Ever Bitcoin Futures Volumes Yesterday

Cboe saw its highest-ever bitcoin futures volumes yesterday

Two major markets for bitcoin futures contracts saw a major boost in volume on Wednesday.

Available market data shows that CBOE saw its highest-ever volume for bitcoin futures since it first debuted the contracts back in December. 18,210 contacts for the May futures were traded, along with 703 for the June contract and 87 for the July contract. No volume was reported for the exchange’s August-dated contract.

CBOE Options Institute senior instructor Kevin Davitt, in a social media video posted on Thursday, said that “[the] average daily volume (ADV) runs about 6,600 in XBT bitcoin Futures. Yesterday’s volume was nearly three times ADV.”

He went on to explain:

“Yesterday was the highest daily volume for bitcoin futures since their introduction here at CBOE nearly five months ago. The lead month May futures traded 18,210 contracts, and across the term structure a total of 19,000 bitcoin futures traded here yesterday. The previous high-volume session was January 17 with just less than 15,500 contracts traded.”

Wednesday’s volume was an outlier among the past several days, as well as the results seen during Thursday’s session. On Monday, XBT bitcoin Futures traded at 3,881, rising to 6,653 on Tuesday. On Thursday, volume was reported at 5,634 contracts as of press time.

CME, according to market data, also saw a big trading day on Wednesday.

The exchange saw the volume of its bitcoin futures contracts market double on Wednesday from the day before, shooting past 11,000 contracts. Unlike CBOE, it was CME’s April 2018 contracts which saw the bulk of the spike, according to its website.

The spike in January’s volume coincided with the expiration of the first set of contracts, Davitt said. However, Wednesday’s volume did not, nor did it have a 15-20 percent range in futures Davitt would otherwise have expected, he added.

“We will certainly be watching to see if this is a volume aberration or if more and more institutional types are moving into crypto,” he said. However, he noted that “the overall bullish sentiment continues in XBT bitcoin Futures.”

Markets image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Published at Thu, 26 Apr 2018 20:00:33 +0000

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BTC Media Acquires The LTB Network, Plans Relaunch

BTC Media, a leading information provider in the distributed ledger space, announced today that it has acquired The LTB Network.

The move adds the company to BTC Media?’?s other publication holdings, including Distributed, bitcoin Magazine, yBitcoin and Gongshitan, among others. As part of the acquisition, The LTB Network will undergo a relaunch in the second half of 2017 which will include an extensive rebranding.

?’?œWe are thrilled to add The LTB Network to our list of industry-leading information services,?’ said BTC Media CEO David Bailey. ?’?œThis strengthens our ability to help audiences stay ahead of trends in the digital currency space and implement best practices for their assets.?’

The LTB Network?’?s Founder and Editor-in-Chief Adam B. Levine will remain host of the flagship ?’?œLet?’?s Talk bitcoin!?’ show and serve on the network?’?s editorial board.

?’?œOur goal has always been to showcase the disruptive ideas, people and projects that are leading innovation in digital currency,?’ Levine said. ?’?œThis is a new opportunity to grow our audience and better serve our podcasters and writers by focusing more of our time on creating better content, not selling ads.?’

Founded in 2011, BTC Media is the world?’?s largest provider of multimedia, educational, conferences and other high-value informational resources focused on the digital currency and blockchain industries.

Founded in 2014, The LTB Network has for years been the home to a distributed group of independent broadcasters and journalists working toward better understanding, exploring and explaining the phenomenon of digital currency.

?’?œThis change marks a vitally important mechanism for BTC media to engage audiences worldwide,?’ Bailey said. ?’?œWe are excited to expand the number of podcasts and place new focus on production value. We look forward to building on the foundation that Adam has established and taking it to the next level.?’

The LTB Network has been a testbed of innovation with a proprietary content management system, token controlled-access forums and more. It was the first to launch a rewards program using a digital currency, LTBCoin, which was awarded to content creators and audience members according to their ?’?œProof of Participation?’ score.

Following the acquisition, LTBCoin holders will be given the chance to participate in a new, ?’?œProof of Existence 2.0?’ project, with details to be released later this year. It shares The LTB Network?’?s spirit of exploration into disruptive technology. Details and updates can be found at http://po.et.

For news media information, please contact Tyler Evans:

tyler@btcmedia.org

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