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BitMEX has clocked in $1 trillion in volumes over the last year

The bitcoin futures market continues to heat up, but BitMEX is leading the pack.

The exchange, which saw $7 billion worth of cryptocurrency-tied perpetual futures trade hands on its platform over the last 24-hours, has clocked in more than $1 trillion in trading volumes over the last 365 days, according to a tweet by its CEO Arthur Hayes.

Data shows BitMEX commands 57% market share, beating other venues such as Deribit (~16%), Huobi DM (~14%) and OKEx (~10%) as well as CME Group (~2.5%).

Still, BitMEX may soon see its position on the top rival as other players look to gate-crash the market for cryptocurrency derivatives.

Binance and Bitfinex are both looking to launch their own offerings in the space.