Crypto exchange Bullish’s 2Q average daily volume grows 3-fold on the quarter

Average daily volumes (ADV) at the Bullish cryptocurrency exchange in the second quarter of the year rose by about 212% to US$522 million, up from US$167 million in the first quarter, according to a business update released on July 26. The exchange is operated by Bullish (GI) Limited.

Fast facts

  • Total trading fees and spreads earned in the second quarter increased by about 237 percent to US$64 million, up from US$19 million in the first quarter, according to a statement from the Cayman Islands-based cryptocurrency exchange. 
  • The ADV in June was $857 million, with fees and spreads totaling $37 million. 
  • A total of US$80 billion has been traded on the exchange since it was launched in July.
  • Bullish reportedly laid off less than 30 employees earlier this month — or roughly 8% of a total of about 395 employees — joining a growing list of companies looking to cut costs, including Coinbase and Gemini.
  • Bullish is also hiring for “product, engineering, and other strategic roles.” 
  • According to the company, Bullish has also announced proprietary range-bound liquidity pool technology on the platform, which allows capital within a liquidity pool to be condensed into a range closer to the current market price. 

Use this link to sign up and start trading with 0% trading fees at Bitdenex Exchange