Bitcoin futures open interest (OI) currently stands at $106.6 billion. Futures are derivatives contracts that provide an agreement to buy or sell a specific asset at a predetermined price at a specific point in the future.
According to CoinGlass, as of today, Bitcoin futures open interest rose 2.62% from the previous day to $106.6 billion.
By exchange, CME, a major institutional player, holds $17.28 billion, or 20.16% of the market. Binance and OKEx hold $14.87 billion and $4.55 billion, respectively, representing 17.35% and 5.31% of the market.
Open interest is increasing across major coin futures markets, indicating increased market participation. In particular, both Bitcoin and altcoins are showing upward trends, which can be interpreted as an improvement in investor sentiment.
Altcoin futures open interest
Ethereum up 1.32% to $12.095 billion
Solana up 3.33% to $2.481 billion
XRP up 6.93% to $836 million
Bitcoin is trading at $117,453, up 1.27% from the previous day, and Ethereum is trading at $4,595.17, up 2.30%.
The Bitcoin futures funding rate is 0.0084%, close to the default of 0.01%, suggesting increasing long position strength.
Altcoin funding rate
Ethereum 0.0053%
Solana 0.0018%
XRP 0.0112%
Over the past 24 hours, $11.69 billion worth of Bitcoin futures were liquidated, while $11.243 billion worth of Ethereum futures were liquidated.
[This article does not provide financial advice, and investors are solely responsible for their investment results.]
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