Bitcoin\u2019s price rose significantly in January. The Chicago Mercantile Exchange, or CME, also hit record Bitcoin (BTC) futures trading numbers in the same month.\u00a0<\/p>\n
\u201cIn January, BTC average daily volume (ADV) reached a monthly record of 17,549 contracts (87.7K equivalent bitcoin),\u201d a CME representative told Cointelegraph. Each CME Bitcoin futures contract is worth the value of 5 BTC paid out in dollars. <\/p>\n
\u201cIn December 2020, BTC average daily volume (ADV) reached 11,179 contracts (55.9K equivalent bitcoin),\u201d the representative added. \u201cThis represents a +57% increase.\u201d<\/p>\n
In January, Bitcoin rose from $30,000 up to almost $42,000, according to TradingView data. The month before, the asset had\u00a0broken its longstanding record high of approximately $20,000, surging up to nearly $30,000 by the end of 2020.<\/p>\n
\u201cWe are continuing to see robust interest in our Bitcoin futures contracts, with a record 528 accounts added in January, helping drive BTC average daily volume (ADV) to a monthly record of 17,549 contracts (87.7K equivalent bitcoin), up 63% YoY,\u201d the CME representative said. <\/p>\n
CME\u2019s BTC futures trading product has gained a notable number of users since its inception in December 2017. \u201c7,400+ unique, active accounts have traded since launch,\u201d CME said in a recent report showing numbers up to Feb. 17. \u201cOf those, 733 were added in 2021, 2.3x more than in 2020,\u201d the report added. <\/p>\n
Bitcoin recently dropped more than $13,000 from its last record high, although the asset has since regained some ground, trading at around $49,200 as of publication time.<\/p>\n