Volumes at LMAX Digital skyrocketed on Monday, with total notional volume racing back above $2 billion for the first time in several weeks. Total notional volume for Monday came in at $2.4 billion, a whopping 208% above 30-day average volume.

Bitcoin and ether volumes were impressive, with bitcoin volume coming in at $1.6 billion, 260% above 30-day average volume, and ether volume coming in at $467 million, 125% above 30-day average volume.

The price action is reflective of the pickup in volatility as we begin to see signs of the market wanting to break out from an extended period of consolidation. Total notional volume over the past 30 days comes in at $23.2 billion.

Average trade sizes have also been jumping, with bitcoin average trade size for Monday coming in at $12,044, 59% above 30-day average trade size, and ether trade size coming in at 5,711, 78% above 30-day average trade size.

The market has been better bid across the board of late, with many assigning this most recent push to the news around Amazon making plans to integrate crypto into its business model.

Amazon has since denied this report, though based on last week’s job posting for a ‘Digital Currency and Blockchain Product Lead,’ the denial is being taken with a grain of salt and any setbacks seen on the denial have indeed been well supported.

Another driver of this push higher could be coming from the Fed’s ballooning balance sheet, now up to a mind blowing record number of $8.24 trillion. The never ending money printing experiment only serves to reaffirm bitcoin’s value proposition as an attractive hedge against cheap money.

It’s also possible the market is feeling better about China miners getting back to work after a period readjustment following recent crackdowns. These crackdowns had forced the miners into migrations which are now completed for the most part.