BitMEX futures trading volume has not recovered and is losing its dominant position in the futures market

BlockBeats news that BitMEX's daily BTC futures trading volume is now lower than that of yen an, OKEx and Huobi, according to Skew data. The king of contracts has yet to recover from the market sell-off of March 12th.

As liquidity dwindled, users began to move elsewhere, one trader said. BitMEX - the contract giant that once dominated the bitcoin derivatives market with its perpetual contracts product - has been losing market share since the March 12 sell-off.At the same time, Huobi, OKEx and coon all have more daily trading volume than BitMEX. Take April 7th as the latest example. On the day, bitcoin futures traded for $3.1 billion, $2.6 billion for Huobi and $2.3 billion for OKEx. BitMEX followed with $2.2 billion.

As one trader put it, market participants have traditionally been attracted by BitMEX's huge liquidity, which is why, despite increasing competition from other trading platforms, BitMEX  Why it still dominates the bitcoin futures market. However, as BitMEX's liquidity dwindled, pricing became less favourable, prompting traders to switch to other trading platforms.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia