Volumes at LMAX Digital have been very healthy in the month of August, and we’re coming out of another week where total notional volume easily exceeded $1 billion from Monday to Friday. It is however worth nothing that as the market consolidates, there’s been a mild reduction in overall volume.

Total notional volume came in at 6.03 billion in the previous week (Monday-Friday). Bitcoin volume for the previous week came in at $3.67 billion, and ether volume came in at $1.38 billion.

As far as average position size goes, we’re seeing average position in bitcoin over the past 30 days at $9,835. Average position size in ether over the past 30 days comes in at $4,546.

As the week gets going, we’re still in a place where crypto markets are struggling to extend the impressive run of gains we had seen for much of July and into mid-August. We’ve since seen a period of consolidation kick in, with many focused on bitcoin’s struggle to overcome the psychological barrier at $50,000.

There has been some negative attention around recent comments from famed US hedge fund manager John Paulson, who said he wouldn’t recommend anyone invest in crypto and that it was nothing more than a bubble in an asset class with a limited supply of nothing.

Still, there continues to be plenty of support for the market into dips and critique from players like Paulson is not unfamiliar to the space. If anything, the biggest risks at the moment are around regulatory updates and a sharp reversal in a very overextended US equities market.