LMAX Digital volumes have been running strong this week, with an already impressive Monday outpaced on Tuesday. Total notional volume on Tuesday came in at $1.9 billion, 47% above 30-day average volume.

Bitcoin volume pushed back above the yard mark at $1.1 billion, also coming in 50% above 30-day average volume. Ether volume once again impressed even more on a relative basis, coming in at $632 million, 59% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $13,695 and average position size for ether running up to $6,687.

Volatility has been slowly picking up since finding a bottom in July. We’re now looking at average daily ranges in bitcoin and ether of $2,876 and $237 respectively.

Adoption of cryptocurrency continues to extend well into the mainstream, getting a nice help from major celebrities and professional athletes.

NFL superstar Aaron Rogers is now going long bitcoin. Rogers tweeted he’d be receiving part of his salary in bitcoin and would also be giving away $1 million in bitcoin to fans in a promotion with Cash App.

On the regulatory front, US regulators have begun the process to regulate stablecoins. The Treasury and the Fed urged lawmakers to let them police digital token issuers like banks, by imposing capital requirements and supervising them.

And over in Singsapore, the central bank has said it won’t clamp down or ban crypto-related business, but will initiate “strong regulation,” so firms that meet its requirements and address the multitude of risks can operate, while illicit holdings are kept out.

Ether has been getting a lot of attention this week as it extends its record run. Now that bitcoin adoption has paved the way for more acceptance of the asset class in 2021, we’re seeing institutional demand spillover into ether.

Looking ahead, as per our Tuesday report, we think a lot of the movement over the coming sessions may be influenced by fallout from the Fed decision and bigger picture macro forces in traditional markets.