Bitcoin exchange BitMEX recorded the largest candle in the history of cryptocurrency. 2 billion in Bitcoin was traded in for four hours on 17 July 2018.
Occurring first publicly noted in a tweet, the user Broccolex, a self-proclaimed analyst of the blockchain:
⚠This@BitMEXdotcom painted the largest volume 4hr candle ever today ⚠lot More than 2 billion dollars (2,000,000,000) was traded in a 4 hour time timeframe— Broccolex (@Broccolex) 17 July 2018
From 16:00 to 20:00 GMT, BitMEX has observed a giant outburst, which amounted to more than 80% of all day trades of Bitcoin ($ BTC to 5.84 billion). Such a fierce bullish run to push the price of Bitcoin more than 8%, and the leading cryptocurrency has broken the mark of $ 7,000.
Some users doubt the veracity of this volume. In comments to the tweet Broccolex, one of the traders wrote about the need for “the termination by the exchange to the swelling volume.”
The fact that trading volume is one of the most important indicators for exchange, testifying to its relevance and financial success.
When it comes to pay-exchangers (charge a Commission), the incentive to manipulate the volumes obvious. For example, the Commission Huobi 0.2%, more than double Binance, but the daily income is about 30% lower.
However, the blame BitMEX in interest-free manipulation of the trading volumes is a bit more complicated. Daily trading volume on this exchange is two times higher than in Binance. Technically, it is the world’s largest cryptocurrency platform, but, most importantly, BitMEX does not charge a fee for the transaction.
In a study published in March 2018, trader and investor Sylvain Ribs accused of manipulation in excess of $ 3 billion in exchanges such as OKEx, Huobi, HitBTC and even many of your favorite Binance. BitMEX in the report of the missing Ribs.