LMAX Digital volumes improved from Monday, making a push closer towards 30-day average volume levels. Total notional volume for Tuesday came in at $332 million, 25% below 30-day average volume.

Bitcoin volume printed $161 million, 34% below 30-day average volume. Ether volume came in at $120 million, 12% below 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,852 and average position size for ether at $3,752.

Bitcoin volatility continues to trend lower since peaking in March. Ether volatility has however shown signs of turning back up in recent sessions. We’re looking at average daily ranges in bitcoin and ether of $2,419 and $170 respectively.

There’s still some hangover in the market around anticipated bitcoin selling from Mt. Gox repayments, which are expected to play out through the end of October of this year.

However, we believe a lot of this event has been priced in and should play out rather smoothly over the course of the coming months, all while overall bitcoin demand easily outpaces any selling we might see from these repayments.

In recent months, we’ve spent a lot of time talking about institutional and mainstream adoption. When we think of how things are playing out, the expression that rings loudest is ‘slowly at first, then all at once.’

This week alone, there have been more signs of those critical ‘slowly at first’ moments that continue to pave the way for a surge in demand for exposure to bitcoin and other crypto assets.

On Tuesday, we learned of Nasdaq traded healthcare company Semler Scientific announcing it would be adopting bitcoin as its primary reserve asset.

Another important update came from the world of commodities where a number of top metals producers were reported to have begun using stablecoin Tether, along with other cryptocurrencies as a more efficient means to settle cross-border transactions.

Technically speaking, both bitcoin and ether are tracking within healthy uptrends and consolidating off recent highs. This suggests setbacks should continue to be very well supported into any dips.