- BitMEX trading engine back online following a brief outage.
- The platform facilitated over $2.2 billion in Bitcoin futures in the last 24-hours.
Established crypto derivatives platform BitMEX experienced a brief outage Tuesday morning. At 12:28 UTC, the BitMEX trading engine went down upgrading the incident to a “major outage”, per the BitMEX status page.
Cancel only Orders
We’re bringing the BitMEX platform back online, initially via cancel only mode until 13:40 UTC, where no new orders can be placed. All funds are safe, withdrawals will be delayed until after the outage has been resolved, likely 15:00 UTC. No liquidations have occurred during the downtimeBitMEX Status Page
Following a brief period of downtime, the exchange went back online allowing users to cancel outstanding orders. This would allow users to prevent orders from fulfilling due to the price changes during the downtime. BitMEX resumed trading shortly after a brief cancel order period.
BitMEX is one of the largest cryptocurrency derivatives platforms. According to Skew, the exchange has facilitated over $2.2 billion in Bitcoin futures volume in the last 24-hours. Prior to Tuesday’s outage, the last time the exchange went down was on March 13th following a DDoS attack which brought the exchange down for 25 minutes.
Recently unseated by Huobi, BitMEX is no longer the largest cryptocurrency derivatives platform. As interest in crypto derivatives rises in 2020, other noteworthy competitors like Binance Futures are rising in adoption and volume and shifting the crypto derivatives market.
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