The largest increase in open interest in Bitcoin futures was recorded on the CoinEx cryptocurrency exchange – 10%. The increase in open interest in Bitcoin futures is an indicator of growing trader activity around the asset, according to experts interviewed by The Block.
Market analysts point out that since the beginning of the year, open interest in Bitcoin futures has increased several times, coinciding with the increase in the value of the first cryptocurrency, which surpassed $63,000.
Funding rates for perpetual Bitcoin futures contracts have reached a new annual record, creating favorable conditions for cryptocurrency hedge funds, according to crypto market intelligence portal Velo Data.
Source: Bits
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