FTX’s share of the Bitcoin futures market has nearly doubled since the end of June, rising from 9% to 16%. This is stated in the в отчете by Arcane Research.
“The exchange had long been the second-largest futures market in the crypto sector. Its Bitcoin futures metrics had until recently lagged behind OKEx, CME and Bybit,” analysts noted.
As shown in the chart above, Binance dominates the crypto derivatives segment with a 24% share. FTX sits in second place, with Bybit in third. The latter briefly led OI in April, but in the following months its share of the overall figure declined substantially.
The global open interest surpassed the $15 billion mark for the first time since May.
“Institutional interest in Bitcoin still appears modest, as CME’s share of global OI stands at 10%, which is a yearly low,” Arcane Research experts noted.
On July 20, FTX announced a record fundraising for the industry in the amount of $900 million. Investors valued the platform at $18 billion.
Subsequently, the crypto-derivatives exchange reduced the maximum leverage to 20x.
Following the investment round, FTX acquired Binance’s shares for an undisclosed amount, which had invested in the crypto-derivatives platform in December 2019. Bankman-Fried explained the move by the difference in business-management styles.
Subscribe to ForkLog’s channel on YouTube!