BitMEX Recorded Largest 4HR Candle Ever, $2 Billion Traded in 4 Hours

Leading Bitcoin exchange BitMEX has recorded the largest volume candle in the history of cryptocurrency, with over $2 billion traded within four hours on July 17, 2018.

BitMEXdotcom painted the largest 4hr volume candle ever today ⚠️More than 2 billion dollars was traded in a 4 hour time timeframe.

Occurring between 16:00 and 20:00 GMT, BitMEX's mammoth spike accounted for more than 80% of all of the day's Bitcoin trading - with $5.84 billion BTC traded globally.

Some would question the legitimacy of this volume, however.

HKN please stop these exchanges creating false volume.

As a holy grail of sorts, trade volume serves as a quantifiable measure of an exchange's usership and monetary success.

Huobi's 0.2% trading fee is double that of Binance's, yet its daily revenue stands nearly 30% lower than Malta-based Binance - the world's largest exchange by daily volume.

In a study published March 2018, Ribes asserted that at the time more than $3 billion of cryptocurrency volume was manipulated - including that of OKEx - currently the second-largest exchange by volume.

Where I go about proving up to $3b of all crypto volume is bogus: https://t.

BitMEX - which sees more than double the daily trade volume of Binance - is by technicality the world's largest cryptocurrency market, yet remarkably, it does not charge fees.