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                    Contents
                    <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h28">The largest casino</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h389">More regulated volume</a></li></ul>
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According to cryptocurrency analyst&nbsp;Charles Edwards, <a rel="nofollow" target="_blank" href="#/news/150-mln-worth-of-longs-liquidated-on-bitmex-after-its-ceo-arthur-hayes-posted-his-20000">the power of BitMEX</a>, the leading derivatives exchange, is slowly fading.&nbsp;

<blockquote class="twitter-tweet">
2018 and 2019 were the BitMEX Era.

But is the BitMEX Era ending?

BitMEX has held over 50% of trusted spot + derivatives exchange volume for nearly 2 years.

But its share of total volume is dropping. <a rel="nofollow" target="_blank" href="https://t.co/XleKvmOZGb">pic.twitter.com/XleKvmOZGb</a>
— Charles Edwards (@caprioleio) <a rel="nofollow" target="_blank" href="https://twitter.com/caprioleio/status/1200433677240557570?ref_src=twsrc%5Etfw">November 29, 2019</a></blockquote>


Edwards defines the past two years as the "BitMEX&nbsp;era" given that the exchange represented the lion's share of all cryptocurrency trading volume. While the Arthur Hayes-helmed crypto monolith&nbsp;is still responsible for 56 percent of all volume, it's far past its glory days when it controlled more than 80 percent&nbsp;back in September 2018.

<a rel="nofollow" target="_blank" href="#">card</a>

The largest casino

BitMEX, which ushered into the nascent crypto scene back in 2014, quickly became a huge success story because of its perpetual swap contracts that offer up to&nbsp;100x contracts.&nbsp;TokenAnalyst co-founder&nbsp;Sid Shekhar called it <a href="https://u.today/heres-how-much-bitmex-makes-in-fees-from-derivatives-trading-in-one-single-day">"the biggest casino ever."</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

While the interest in trading cryptocurrency derivatives is stronger than ever, BitMEX is gradually becoming a less significant player in the industry since it faced some strong competition. As reported by U.Today, Binance's futures platforms that were launched back in September are already <a href="https://u.today/new-record-700-000-000-traded-on-binances-bitcoin-futures-platforms-in-one-day">breathing down its neck</a>. &nbsp;&nbsp;&nbsp;&nbsp;

The Seychelles-based<em>&nbsp;</em>made headlined after it faced <a rel="nofollow" target="_blank" href="#">an investigation by the&nbsp;Commodity Futures Trading Commission (CFTC)</a>.&nbsp;US citizens are prohibited from using the exchange.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;

<a href="https://u.today/200-mln-worth-of-bitcoin-longs-liquidated-on-bitmex-after-massive-btc-price-crash">card</a>

More regulated volume

Bakkt, the crypto futures exchange owned by&nbsp;Intercontinental Exchange (ICE),&nbsp;recently recorded <a href="https://u.today/bitcoin-futures-traded-on-bakkt-see-100x-growth-since-september-is-another-bull-run-near">a 100x increase</a> in its daily trading volume since September. Alex Krüger<em>&nbsp;</em>opined that more regulated volume was a very positive development for the industry.&nbsp;

Part of the reason why the US Securities and Exchange Commission (SEC) is so reluctant to approve a Bitcoin ETF is that cryptocurrency trading primarily takes place on unregulated exchanges in the likes of BitMEX. Hence, this market is still highly susceptible to manipulations.&nbsp; &nbsp;
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                    Contents
                    <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h28">The largest casino</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h389">More regulated volume</a></li></ul>
    Advertisement
    
        
    
    
        
                
            
                                            

        
        
                
            
                                            

        
    
According to cryptocurrency analyst&nbsp;Charles Edwards, <a rel="nofollow" target="_blank" href="#/news/150-mln-worth-of-longs-liquidated-on-bitmex-after-its-ceo-arthur-hayes-posted-his-20000">the power of BitMEX</a>, the leading derivatives exchange, is slowly fading.&nbsp;

<blockquote class="twitter-tweet">
2018 and 2019 were the BitMEX Era.

But is the BitMEX Era ending?

BitMEX has held over 50% of trusted spot + derivatives exchange volume for nearly 2 years.

But its share of total volume is dropping. <a rel="nofollow" target="_blank" href="https://t.co/XleKvmOZGb">pic.twitter.com/XleKvmOZGb</a>
— Charles Edwards (@caprioleio) <a rel="nofollow" target="_blank" href="https://twitter.com/caprioleio/status/1200433677240557570?ref_src=twsrc%5Etfw">November 29, 2019</a></blockquote>


Edwards defines the past two years as the "BitMEX&nbsp;era" given that the exchange represented the lion's share of all cryptocurrency trading volume. While the Arthur Hayes-helmed crypto monolith&nbsp;is still responsible for 56 percent of all volume, it's far past its glory days when it controlled more than 80 percent&nbsp;back in September 2018.

<a rel="nofollow" target="_blank" href="#">card</a>

The largest casino

BitMEX, which ushered into the nascent crypto scene back in 2014, quickly became a huge success story because of its perpetual swap contracts that offer up to&nbsp;100x contracts.&nbsp;TokenAnalyst co-founder&nbsp;Sid Shekhar called it <a href="https://u.today/heres-how-much-bitmex-makes-in-fees-from-derivatives-trading-in-one-single-day">"the biggest casino ever."</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

While the interest in trading cryptocurrency derivatives is stronger than ever, BitMEX is gradually becoming a less significant player in the industry since it faced some strong competition. As reported by U.Today, Binance's futures platforms that were launched back in September are already <a href="https://u.today/new-record-700-000-000-traded-on-binances-bitcoin-futures-platforms-in-one-day">breathing down its neck</a>. &nbsp;&nbsp;&nbsp;&nbsp;

The Seychelles-based<em>&nbsp;</em>made headlined after it faced <a rel="nofollow" target="_blank" href="#">an investigation by the&nbsp;Commodity Futures Trading Commission (CFTC)</a>.&nbsp;US citizens are prohibited from using the exchange.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;

<a href="https://u.today/200-mln-worth-of-bitcoin-longs-liquidated-on-bitmex-after-massive-btc-price-crash">card</a>

More regulated volume

Bakkt, the crypto futures exchange owned by&nbsp;Intercontinental Exchange (ICE),&nbsp;recently recorded <a href="https://u.today/bitcoin-futures-traded-on-bakkt-see-100x-growth-since-september-is-another-bull-run-near">a 100x increase</a> in its daily trading volume since September. Alex Krüger<em>&nbsp;</em>opined that more regulated volume was a very positive development for the industry.&nbsp;

Part of the reason why the US Securities and Exchange Commission (SEC) is so reluctant to approve a Bitcoin ETF is that cryptocurrency trading primarily takes place on unregulated exchanges in the likes of BitMEX. Hence, this market is still highly susceptible to manipulations.&nbsp; &nbsp;
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    Crypto Derivatives Giant BitMEX Is Losing Its Power: Analyst

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    article image
    Alex Dovbnya
    It seems that BitMEX is no longer in vogue as its share of trading volume continues to drop
    Fri, 29/11/2019 - 17:02
    Crypto Derivatives Giant BitMEX Is Losing Its Power: Analyst
    Cover image via U.Today
    Read U.TODAY on
    Google News
    Contents
    Advertisement

    According to cryptocurrency analyst Charles Edwards, the power of BitMEX, the leading derivatives exchange, is slowly fading. 

    Edwards defines the past two years as the "BitMEX era" given that the exchange represented the lion's share of all cryptocurrency trading volume. While the Arthur Hayes-helmed crypto monolith is still responsible for 56 percent of all volume, it's far past its glory days when it controlled more than 80 percent back in September 2018.

    card

    The largest casino

    BitMEX, which ushered into the nascent crypto scene back in 2014, quickly became a huge success story because of its perpetual swap contracts that offer up to 100x contracts. TokenAnalyst co-founder Sid Shekhar called it "the biggest casino ever."          

    While the interest in trading cryptocurrency derivatives is stronger than ever, BitMEX is gradually becoming a less significant player in the industry since it faced some strong competition. As reported by U.Today, Binance's futures platforms that were launched back in September are already breathing down its neck.     

    The Seychelles-based made headlined after it faced an investigation by the Commodity Futures Trading Commission (CFTC). US citizens are prohibited from using the exchange.         

    More regulated volume

    Bakkt, the crypto futures exchange owned by Intercontinental Exchange (ICE), recently recorded a 100x increase in its daily trading volume since September. Alex Krüger opined that more regulated volume was a very positive development for the industry. 

    Part of the reason why the US Securities and Exchange Commission (SEC) is so reluctant to approve a Bitcoin ETF is that cryptocurrency trading primarily takes place on unregulated exchanges in the likes of BitMEX. Hence, this market is still highly susceptible to manipulations.   

    #Cryptocurrency exchange
    About the author
    article image
    Alex Dovbnya

    Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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