The total number of open contracts (OI) for Bitcoin futures has surpassed the $ 5 billion mark on February 13, according to data compiled by The Block. Open contracts refer to the value of unpaid future contracts - unresolved. The increase in open contracts is a signal that there is more money flowing into the market and traders are anticipating fundamental volatility to increase.
BitMEX - a cryptocurrency derivative exchange based in Seychelles, currently owns the largest amount of open contracts at 1.6 billion USD - about 31% of the total. BitMEX's dominance has been declining in recent months - down from 44% in November. Following BitMEX are Chinese exchanges, OKEx and Huobi - with about 1.4 billion USD and 1 billion USD. The corresponding open contract value.
CME Group is currently the 5th most popular platform for trading Bitcoin futures contracts with about 312 million USD worth of open contracts, while Bakkt has only about 18 million USD.
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According to The Block
Translated by ToiYeuBitcoin
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