Hong Kong-based crypto derivatives exchange FTX saw record volumes in ether (ETH) futures on Wednesday amid a sell-off in the cryptocurrency's price.
Daily trading volume on the nine-month-old exchange jumped to a lifetime high of $245 million, marking a 51 percent increase from Tuesday's volume of $162 million, according to Skew Markets. The previous record high of $189 million was reached on Feb. 20.
While volumes on FTX spiked, the cryptocurrency's price fell by 10 percent from $251 to $215 to hit the lowest level since Feb. 8.
Trading activity has been rising since early January and has witnessed spectacular growth over the last four weeks, as seen below.
