LMAX Digital reports solid performance with average daily volumes of $250M

Exchanges • November 21, 2019, 5:11PM EST
The Block

LMAX Digital is set to publish its monthly volumes and price data on the company's website for the first time. Figures obtained by The Block show the exchange's robust growth trajectory within the past few months.

Established in May 2018, LMAX Digital is part of the LMAX Exchange Group. It provides physical trading and custodial services for major cryptocurrencies and aims to bring them into wider institutional circulation.

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From May to October, the company reported average daily volumes (ADV) of $250 million in spot cryptocurrencies. In June, LMAX Digital observed a mid-year spike and hit a record high of $8.6 billion in monthly volumes with $285 million in ADV. LMAX Digital’s figures are considerably higher than those of many top exchanges on the market. Binance, for example, experienced ADV of $218 million, whereas other players including Coinbase Pro, Bitfinex, and Kraken all saw much lower ADV of well below $80 million.

About Author

Yilun joined The Block in November 2019. She has a policy background and extensive experience in reporting and writing. She has worked on stories ranging from business to politics.