Volume on BitMEX Spot Exchange surpasses $10M in first 24 hours

BitMEX Spot, the new trading platform to buy and sell crypto launched by one of the world’s largest crypto exchanges, BitMEX, has made a strong entrance in the first days since going live, hitting over $10 million in 24-hour trading volume following the launch.

The new spot exchange offers seven cryptocurrency pairs versus Tether (USDT); Bitcoin (XBT), Ethereum (ETH), Chainlink (LINK), Uniswap (UNI), Polygon (MATIC), Axie Infinity (AXS), and ApeCoin (APE). Ultimately, more trading pairs, along with other user rewards and benefits will be rolled out later this year.

Alexander Höptner, CEO of BitMEX:
“Spot trading from BitMEX has been highly anticipated within the crypto community, and this encouraging start is a reflection of resilient market demand from institutional and retail traders even in the current environment. We look forward to welcoming more new users to the spot exchange and continuing to offer them an expanding crypto ecosystem that supports their trading strategies; whether that is spot, derivatives, or interest-bearing products.”

This launch of BitMEX Spot represents a significant milestone for BitMEX’s ‘Beyond Derivatives‘ strategy it announced last year.

Genia Mikhalchenko, Vice President, BitMEX Spot:
“We have received a very strong response from our existing traders and an influx in sign-ups and trading from new users. We thank the crypto community for the support and feedback they’ve given us in the first few days following the launch of spot, and we’re going full speed ahead with our ambitions to list even more assets on the exchange. We have also loved the enthusiasm we’ve seen from traders responding to our $1 million sweepstakes, which lasts for the next two months.”