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The perpetual overload problem: BitMEX is taking steps to upgrade its platform

by Celia Wan and Frank Chaparro

May 24, 2019, 11:55AM EDT  ·  4 min read

Quick Take

  • Perpetual swaps champion BitMEX is not adding new products until it fixes the system overload problem, sources said 
  • Some professional traders are switching from BitMEX to its competitors like Deribit for a better trading experience  
  • The firm announced on Thursday that it is working on a new trading architecture to increase its platform capacity

by Celia Wan and Frank Chaparro

May 24, 2019, 11:55AM EDT  ·  4 min read

BitMEX is taking its overload problem seriously. 

The Seychelles-based, king of crypto derivatives has seen some of the most action in the nascent market, overseeing as much as $10 billion in trading a day. Still, when demand is high the system is known to overload, resulting in the cancellation of client orders en masse.