LMAX Digital volume got off to a decent start this week. Total notional volume for Monday came in at $741 million, 2% above 30-day average volume.

Bitcoin volume printed $440 million on Monday, just 2% below 30-day average volume. Ether volume came in at $238 million, 11% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $11,996 and average position size for ether at 5,205.

Volatility has been trending lower in 2022. We’re now looking at average daily ranges in bitcoin and ether of $2,059 and $165 respectively.

The positive news in the crypto space keeps rolling in. Last week, news broke of our own LMAX Group partnering with SIX to offer cash-settled, centrally cleared crypto futures in Q3 2022.

This week, headlines broke of Goldman Sachs as the first major US bank to perform on over the counter cryptocurrency transaction, this a BTC non-deliverable option with Galaxy Digital.

These moves are significant because they reflect an ongoing adoption of cryptocurrency and overall maturation within the asset class.

Institutions and other major banks will be increasingly comfortable with the idea of transacting in cryptocurrency now that such options have become available to more sophisticated market participants.

Other positive headlines include Tesla CEO Musk saying he had no plans to sell his cryptocurrencies. Musk has said he owns bitcoin, along with ether and doge.

Technically speaking, all of this has been reflected in price action, with bitcoin and ether making impressive moves to the topside today. At the same time, we still need bitcoin to clear the February high to suggest we’re truly bottoming out in 2022.