BitMEX Highlights Cryptocurrency Exchanges in August 2020

BitMEX Highlights Cryptocurrency Exchanges in August 2020

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BitMEX, the online global cryptocurrency exchange, examines the report on cryptocurrency exchanges in August of 2020.

BitMEX, the global cryptocurrency exchange, breaks down the August 2020 cryptocurrency exchange report released by CryptoCompare. Some of the key takeaways that BitMEX highlighted are:

• Crypto spot volumes soar, with top tier exchanges dominating

• Derivatives volume surges by over 54%

• CME derivatives volume shoot up

Although all of these factors should point to overall bullish sentiment, we have seen a steep decline in price and cryptocurrency market caps across the board. BitMEX does a deep dive into a lot of relevant data and approaches the analysis from a quantitative approach. We saw huge increases across the moth of August, such as derivatives volume increasing 53.6% to $711.7 billion. On top of that, total spot volume increased 49.6% to $944.4 billion. Check out the full report on the BitMEX website.

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