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Pro traders flocked to bitcoin in crypto crash amid ‘flight to quality’

LMAX exchange boss David Mercer said returns for the cryptocurrency over the past two years show an ‘amazing performance of an asset’

David Mercer, CEO of LMAX Group, said recent sell-off ‘showed the resilience of bitcoin and crypto’
David Mercer, CEO of LMAX Group, said recent sell-off ‘showed the resilience of bitcoin and crypto’ Photo: Steven Ferdman/Getty Images

Bitcoin’s recovery from the brutal sell-off that wiped billions from the crypto market shows the resilience of the cryptocurrency.

That's according to the chief executive of cryptocurrency and FX exchange LMAX Group, David Mercer, who said the two-day period following the terra-luna crash saw the highest amount of crypto traded on its platform this year, with $2.5bn and $3.5bn traded each day respectively.

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