The surge in institutional interest in Bitcoin appears to be at a peak, according to the Chicago Mercantile Exchange (CME), which takes into account the large volumes of trading in Bitcoin derivatives before the halving occurs.

According to a message from the futures exchange Chicago Mercantile Exchange, checked For CoinDesk, the increase in The trading volume of Bitcoin derivatives in the past week shows the interest and commitment of institutional investors in the cryptocurrencybefore the third halving arrives in the next few hours.

In this sense, the iInvestor interest, the report said, can be explained by the introduction of unique accounts for investing in Bitcoin derivatives, which, according to CME, will be 844 in 2020, twice as much as in the same period last year.

Also Check that the daily trading volume of Bitcoin futures contracts so far this year is 8,456, 43% more than in 2019 In the same period, Bitcoin options contracts launched in January hit 2,250 with a record 216 contracts negotiated on May 6th.

The note from CMEmention, that:

With Bitcoin halved this week, CME Bitcoin futures and options saw an increase in trading activity prior to this major event. Large open interest holders of bitcoin futures hit a record 62 in the week of April 14th, which is due to strong institutional interest

In block number 630,000the halving or halving process will occur where from that moment the Block rewards, will reduce 50%which leads to the same 12.5 BTC to 6.25 BTC. This will be the one The third halving of Bitcoin after 2012 and 2016and the Expectations are rising in response to the Bitcoin market’s response to previous processes, which contributed to the price increase.

Many analysts and investors, They hope that the price of Bitcoin will come into effect with the halving, making the cryptocurrency more valuable and scarceon the other hand some Keep in mind that this third halving may be different or have no significant impact on the market of Bitcoin.

In one way or another it is The halving is imminent, with the arrival in Minutes, from the time of writing this article. From this moment on, the different temporal effects of the arrival of the halving can be assessed.

Courtesy of Shutterstock

Join in telegram y Twitter;; You can also hear ours Podcast


Add Comment

Your email address will not be published. Required fields are marked *