July 24, 2021

Bitcoin futures open interest hits new ATH as traders flock to derivatives

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With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets.

According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges approaching $20 billion.

More capital is flowing into the derivatives markets, as the amount of outstanding #Bitcoin futures contracts reaches another ATH.

Open interest across major exchanges is currently sitting at the verge of the $20B mark.

Chart: https://t.co/ygoffzMSJW pic.twitter.com/BiJIpyTKDD

— glassnode (@glassnode) March 11, 2021

Options have also surged to see record volumes in 2021, with Derebit now regularly hosting more than $1 billion worth of daily trade.

According to Binance-owned CoinMarketCap, the three-largest centralized derivatives exchanges — Binance, Huobi Global, and ByBit — represent more than $100 billion in combined daily trade. Binance alone is $57 billion. The next ten highest-ranked exchanges facilitated more than $65 billion in trade over the past 24 hours.

However, despite the surging volumes, some decentralized derivatives exchangesTitle: Bitcoin futures open interest hits new ATH as traders flock to derivatives
Sourced From: cointelegraph.com/news/bitcoin-futures-open-interest-hits-new-ath-as-traders-flock-to-derivatives
Published Date: Fri, 12 Mar 2021 05:00:23 +0000