LedgerX Says Bitcoin Options Trading Hit All-Time High in JulyAug 8, 2018, 2:00PM
LedgerX responds to the Bitcoin-based derivatives trend by expanding its platform to include a brand new regulated Bitcoin purchasing service
Bitcoin-based derivatives are a driving factor in the cryptocurrency sector, and, according to LedgerX, a major Bitcoin futures vender, demand for these assets is soaring. Juthica Chou, LedgerX's president, claims her company managed to clear a total of $50 million in Bitcoin derivative volume in July alone and completed its largest trade on record, a Bitcoin strike contract worth $15,000.
Chou stated that
June was one of the record months for us and July was a record month by far. If you look at how we've been doing our transactions, a third of the value has been over the last month, we've seen a lot of healthy activity.
It is unclear if this surge in demand is being driven by the popularity of the LedgerX exchange or by an overall surge in the market. Regardless, LedgerX has responded to the trend by expanding its platform to include a regulated Bitcoin purchasing service geared specifically for high net-worth investors.
The Rise of Regulated Bitcoin Platforms
Ever since the CBOE and CME won regulatory approval for its Bitcoin futures products, the U.S. cryptocurrency industry has viewed regulatory compliance as an important avenue for expansion in the sector. One-Click Bitcoin, LedgerX's new service, is designed to enable high-net-worth investors to purchase Bitcoin through a federally-regulated platform. It has key similarities with Bakkt, a regulated platform being developed by the Intercontinental Exchange, the parent company of the New York Stock Exchange.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.