February 25, 2021 | AtoZ Markets – The price of Bitcoin rose considerably during January. The Chicago Mercantile Exchange (CME), also hit record Bitcoin (BTC) futures trading figures the same month.
"In January, the average daily volume (ADV) of BTC reached a monthly record of 17,549 contracts (equivalent to approximately 87,700 bitcoins)," a CME spokesperson said. Each CME Bitcoin futures contract is worth 5 BTC paid in US dollars.
"In December 2020, the average daily volume (ADV) of BTC reached 11,179 contracts (equivalent to approximately 55,900 bitcoins)," added the representative. "This represents an increase of more than 57%."
In January, Bitcoin went from $30,000 to almost $42,000, according to data from TradingView. The previous month, the asset had broken through its previous all-time high of $20,000, climbing to nearly $30,000 by the end of 2020.
"We continue to see great interest in our Bitcoin futures contracts, with a record 528 accounts added in January, helping drive BTC's average daily volume (ADV) to a monthly record of 17,549 contracts (87,700 bitcoins), a 63 % more year over year," said the CME representative.
CME's BTC futures trading product has gained a remarkable number of users since its inception in December 2017 . "More than 7,400 unique and active accounts have operated since launch," CME said in a recent report showing the numbers as of February 17. "Of these, 733 were added in 2021, 2.3 times more than in 2020," the report added.
Recently, Bitcoin fell more than $13,000 from its last all-time high, although since then the asset has regained some ground, trading close to $49,200 at the time of this article's publication.
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