The demand for Bitcoin-focused products is growing at a rapid pace. Institutional investors are the main players in the BTC futures market.
According to Glassnode this week, open interest in such a product approached $ 20 billion, which was the next maximum.
More capital is flowing into the derivatives markets, as the amount of outstanding #Bitcoin futures contracts reaches another ATH.
Open interest across major exchanges is currently sitting at the verge of the $20B mark.
Chart: https://t.co/ygoffzMSJW pic.twitter.com/BiJIpyTKDD
— glassnode (@glassnode) March 11, 2021
The options market is also expanding. The largest platform in this segment, Deribit, reported that the average daily trading volume for Bitcoin options exceeded $ 1 billion.
According to the CoinMarketCap service, on the three exchanges Binance, Huobi and Bybit, the amount of daily trading in the derivatives segment now exceeds $ 100 billion.On the share of the Binance platform alone, daily trading exceeds $ 57 billion.
At the end of February, amid falling prices for Bitcoin and other cryptocurrencies, the BTC futures market experienced the largest close in its history. On February 22, according to ByBt, futures positions totaling up to $ 5.77 billion were liquidated.
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