LMAX Digital, an
institutional spot cryptocurrency exchange and part of UK-headquartered LMAX
Group, hit its peak volume so far in 2022 on Thursday.
“Volumes on our
institutional crypto currency exchange, LMAX Digital soared to the highest
levels of the year on Wednesday and Thursday, coming in at $2.10 billion and
$3.25 billion respectively,” LMAX Group wrote on
LinkedIn.
LMAX’s record comes as
the cryptocurrency market begins to rebound after plunging in the last few
days.
For instance, American cryptocurrency
exchange, Coinbase, saw its stocks rise by 8.9% in 24 hours on Thursday,
closing the trading day at $58.50 on NASDAQ.
While Bitcoin rose above
$30,000 on Friday after plunging below $26,000 during the market crash, Ether climbed 9.7%
over the past 24 hours, hitting a daily high of $2,128, according to CoinMarketCap’s
update.
Nonetheless, digital
assets are still below their pre-market-crash levels, begging the question if
the rally will be sustainable
or turn out a dead cat bounce.
A Peek into LMAX’s Peak
Data on LMAX’s website shows that the recent reported jump in its daily volumes is the highest recorded by the exchange tracing as far back as December 2021.
However, a broader view
of its yearly data reveals that the exchange is yet to surpass its peak records of daily volumes from around
June 2021.
Meanwhile, CF
Benchmarks, a cryptocurrency index provider regulated by the UK’s Financial
Conduct Authority, in March announced its
intention to add market data from
LMAX Digital to its benchmarks.
The index provider said LMAX’s data will contribute to six of its cryptocurrency indices effective
from May 3, thereby significantly enhancing its index data.
These benchmarks include
some of the widely used Bitcoin and Ethereum indices with over $5 billion in
referenced assets.
LMAX Digital, an
institutional spot cryptocurrency exchange and part of UK-headquartered LMAX
Group, hit its peak volume so far in 2022 on Thursday.
“Volumes on our
institutional crypto currency exchange, LMAX Digital soared to the highest
levels of the year on Wednesday and Thursday, coming in at $2.10 billion and
$3.25 billion respectively,” LMAX Group wrote on
LinkedIn.
LMAX’s record comes as
the cryptocurrency market begins to rebound after plunging in the last few
days.
For instance, American cryptocurrency
exchange, Coinbase, saw its stocks rise by 8.9% in 24 hours on Thursday,
closing the trading day at $58.50 on NASDAQ.
While Bitcoin rose above
$30,000 on Friday after plunging below $26,000 during the market crash, Ether climbed 9.7%
over the past 24 hours, hitting a daily high of $2,128, according to CoinMarketCap’s
update.
Nonetheless, digital
assets are still below their pre-market-crash levels, begging the question if
the rally will be sustainable
or turn out a dead cat bounce.
A Peek into LMAX’s Peak
Data on LMAX’s website shows that the recent reported jump in its daily volumes is the highest recorded by the exchange tracing as far back as December 2021.
However, a broader view
of its yearly data reveals that the exchange is yet to surpass its peak records of daily volumes from around
June 2021.
Meanwhile, CF
Benchmarks, a cryptocurrency index provider regulated by the UK’s Financial
Conduct Authority, in March announced its
intention to add market data from
LMAX Digital to its benchmarks.
The index provider said LMAX’s data will contribute to six of its cryptocurrency indices effective
from May 3, thereby significantly enhancing its index data.
These benchmarks include
some of the widely used Bitcoin and Ethereum indices with over $5 billion in
referenced assets.
Source: https://www.financemagnates.com/cryptocurrency/as-crypto-markets-rebound-lmax-hits-highest-volume-yet-in-2022/