Fintech

Institutional investors rush to trade cryptocurrencies in rising market

The institution-only crypto exchange Lmax Digital has experienced a marked uptick in volumes since the start of April

A Bitcoin ATM in Hong Kong's Mongkok district
A Bitcoin ATM in Hong Kong's Mongkok district Photo: Getty Images

Lmax, a foreign exchange trading firm, said cryptocurrency trades more than tripled on its dedicated marketplace during the month of April, as bitcoin surged in price.

A record $2.2bn was traded on Lmax Digital, a sharp rise on the average $600m a month recorded during the first quarter.

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