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BitMEX’s Bitcoin Futures Annexed by Binance After Black Thursday Slump

Dawn Wu

Summary: In BitMEX’s Bitcoin futures market share of open interest and volume, the former front-runner is now losing its share to Binance, according to data on Coin Metrics.

In BitMEX’s Bitcoin futures market share of open interest and volume, the former front-runner is now losing its share to Binance, according to data on Coin Metrics. After the crypto Black Thursday crash on March 12, when Bitcoin price almost dropped in half on BitMEX, the leading cryptocurrency exchange and trading platform, has been struggling to recover its lost 10% of market share within a month. 

Binance now reports $2.8 billion in 24-hour Bitcoin futures volumes while BitMEX’s has sunk to $2.1 billion, CoinTelegraph reports.

On March 12, crypto-asset plummeted with global markets of stocks, gold, and oil.

By Dawn Wu

(Image from flicker.com by Marco Verch)

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