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3 August 2022 Volumes trending higher |
LMAX Digital performance |
LMAX Digital volumes were strong on Tuesday. Total notional volume for Tuesday came in at $593 million, 54% above 30-day average volume. Bitcoin volume printed $387 million on Tuesday, 62% above 30-day average volume. Ether volume came in at $158 million, 46% above 30-day average volume. Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $6,563 and average position size for ether at 2,386. Volatility has been showing signs of picking up off yearly lows. We’re looking at average daily ranges in bitcoin and ether of $1,184 and $124 respectively. |
Latest industry news |
It’s been pretty quiet out there this week, though we have continued to see demand on dips, and this demand has been accompanied by a healthy pickup in volume, which is encouraging. The correlations between crypto assets and broader global sentiment are still very much alive and well and what we’ve seen on that front is that sentiment has been steadily improving in recent weeks, which has helped to bolster crypto. There had been some weakness in crypto earlier this week, with the pullback attributed to broad based US Dollar demand on the back of a wave of hawkish Fed speak. Technically speaking, we’ve highlighted the need for bitcoin to get back above a lower top from May at around $32,400, to suggest we’re seeing a legitimate bullish reversal. Until then, the trend does remain bearish. As far as immediate resistance goes, keep an eye on last week’s high at around $24,670. A break above this level will open the door for additional recovery. Looking at recent news in the crypto space, new legislation will be revealed today in the US around whether the CFTC or SEC is best to oversee regulation of digital assets. We also learned of Michael Saylor giving up his CEO title at MicroStrategy, after the firm posted a $1 billion loss. |
LMAX Digital metrics | ||||
Price performance last 30 days avg. vs USD (%) |
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Total volumes last 30 days ($bn) |
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BTCUSD volumes last 30 days ($bn) |
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BTCUSD avg. trade size last 30 days ($k) |
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ETHUSD avg. trade size last 30 days ($k) |
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Average daily range | ||||
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