Crossover Markets’ Digital Asset Exchange Surpasses $3.15 Billion in Trading Volume in Q1 2024
Digital asset technology firm Crossover Markets has released impressive performance data for Q1 2024 from its flagship digital assets platform, CROSSx.
During the first quarter of the year, CROSSx executed a notional trading volume of $3,153,752,406 through 415,450 trades , according to a Thursday press release .
Additionally, CROSSx processed over 141 billion quotes, further solidifying its position as a thriving digital asset exchange.
The execution times on CROSSx in Q1 were notably fast, as measured by industry standards.
The platform achieved impressive results, with 75% of orders to acknowledgement completed in less than 7 microseconds and 99% below 10 microseconds.
Similarly, 75% of orders to feed were below 8 microseconds, with 99% below 11 microseconds.
“A fter several quarters of consistent growth, we are thrilled to report CROSSx data that reveals we are the fastest venue and among the fastest-growing institutional venues in the digital world, Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said.
Mulvihill also highlighted the increasing proportion of trades that are “ Order Crossing Order ” (OXO) , which currently accounts for approximately 10% of all trades executed on CROSSx.
He said that this feature further distinguishes the platform’s capacity and showcases its value to both market makers and takers, as demonstrated by its commercial model.
Today, we are thrilled to announce several key performance indicators from Q1 trading on our flagship digital asset trading venue CROSSx. Read more on our Q1 2024 volumes and execution time highlights, and hear from our leadership team in the full release: https://t.co/1ZvcbHH1jY pic.twitter.com/P1n7sbUrMV
— Crossover Markets
Read more on cryptonews.com
