Cryptocurrency
Open interest for Bitcoin futures surpasses $5 billion
As reported by The Block, “Aggregated open interest (OI) for Bitcoin futures has surpassed $5 billion on Feb. 13, according to data compiled by The Block. Open interest refers to the value of outstanding futures contracts that have not been settled yet. An increase in open interest signals that more money is flowing into the […]
As reported by The Block, “Aggregated open interest (OI) for Bitcoin futures has surpassed $5 billion on Feb. 13, according to data compiled by The Block. Open interest refers to the value of outstanding futures contracts that have not been settled yet. An increase in open interest signals that more money is flowing into the market and that traders are anticipating a near-term rise in the underlying volatility.
“BitMEX, a cryptocurrency futures venue incorporated in the Seychelles, currently has the largest open interest of $1.6 billion; about 31.0% of the total aggregated sum. BitMEX’s dominance has dwindled in recent months, falling from 44% in November. BitMEX is followed by Chinese exchanges OKEx and Huobi, which have about $1.4 billion and $1 billion in open interest respectively…”