Kalshi Sets Record with Daily Trading Volume of $268.89 Million
Kalshi set two records in the cryptocurrency sector on August 19, with a daily trading volume reaching $268.89 million and a daily open interest in perpetual contracts hitting $18.69 million. Market sentiment has turned optimistic, with the total market capitalization increasing by approximately $313 billion over the past three days, rising from $2.19 trillion to $2.5 trillion. On August 19, short positions were liquidated for over $2.7 billion. Kalshi's spot trading volume is based on cryptocurrency event contracts, where traders' risk is limited to their invested amount, with no liquidation mechanism. The surge in trading volume reflects market interest rather than a clear direction. Open interest indicates directional positions, reflecting the portion of contracts that remain open after the close, and a new high in open interest suggests continued leverage exposure. Kalshi's cryptocurrency perpetual contracts began on June 3, with open interest rising from approximately $200,000 on June 4 to $18.69 million on August 19, although these figures remain relatively small compared to large cryptocurrency derivatives exchanges.
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