Open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has edged close to the $1 billion mark. Analysts at Arcane Research have noted this.
The open interest (OI) on CME hit a new all-time high, surpassing August’s levels.
Source: Arcane Research, skew.
“The aggregated open interest in the Bitcoin futures market also rose over the week and is now on track for new all-time highs. The total OI for futures on the leading cryptocurrency currently stands at $6.3 billion,” the experts said.
The Block analyst Larry Cermak noted that on CME there are more than 100 players, each with at least 25 BTC of open interest.
CME’s open interest is likely going to surpass $1 billion in open interest today. There are now more than 100 total reportable traders that held at least 25 BTC worth of open interest. Not a small feat. And OI now 50% higher than BitMEX’s BTC OI. pic.twitter.com/JIvZthVH8Z
— Larry Cermak (@lawmaster) November 17, 2020
“Open interest on CME is now 50% higher than BitMEX,” the expert said.
OKEx leads the field in open interest. It is followed by Binance and CME, which account for about 15% of the total OI in the segment.
Data: skew.
Earlier today ForkLog reported that the price of Bitcoin, for the first time since January 2018 broke through the $17,000 mark.
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