Institutional Investors Boost CME Bitcoin Trading Products – Bitcoin Whale Makes Massive Move
The crypto market looks good today with Bitcoin finally moving upwards. The king coin might be trying to retest the important level of $10k once again after a few failed attempts following the halving.
As you know, Bitcoin’s third halving successfully completed on May 11, and there were expected some significant moves in the crypto space.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $9,719.57.
CME sees a new record high for BTC trading products
Chicago Mercantile Exchange (CME) is the world’s leading financial derivatives marketplace and sees new record highs for the BTC trading products.
Crypto data analytics company Skew revealed that in the first half of May, CME BTC options open interest which (the total number of futures contracts held by market participants at the end of the trading day) just hit a new high.
According to the latest reports coming from the online publication the Daily Hodl, as of May 14, “the exchange secured the open interest of 10,792 Bitcoin futures trading contracts, equivalent to a total of 53,960 BTC, currently valued at $512 million, setting a fresh all-time high for the product, according to data provided by a CME representative to Cointelegraph.”
— skew (@skewdotcom) May 15, 2020
Bitcoin whale makes massive BTC move in a single transaction
It’s been also reported that one of the richest Bitcoin holders out there made a massive move and completed a huge crypto transfer.
The whale drained a BTC wallet and sent all the BTC to an unknown address and whale watchers are trying to figure out the reason for such a move.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 14,922 #BTC (143,962,779 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) May 18, 2020
BitInfoCharts revealed that this whale accumulated BTC in a single month.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.