May 2019 was the best month for derivative giant CME’s bitcoin futures volume since its 2017 launch as nearly 300,000 contracts were traded in the 31-day period.
It was revealed that the average daily volume (ADV) reached more than 13,600 contracts which is around $515 million notional value or 68,000 equivalent bitcoin, up 27 percent when compared to the month of April.
Furthermore on May 13, Bitcoin futures traded a record single-day volume of 33,667 contracts (168,000 equivalent bitcoin or $1.3 billion notional value) while on May 28, BTC hit a record open interest of 5,190 contracts.
According CME group based on their research, institutional interest is on a rise and with 223 trading account added during the month of May corroborates that claim as it is the highest since January 2018.
This is not surprising as it is the general sentiments that the bearish trend of bitcoin is finally over and starting to enter the bullish cycle.
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