Mar 12, 2021

Open interest in bitcoin futures approaches $20 billion

The demand for Bitcoin-focused products is growing at a rapid pace. Institutional investors are the main players in the BTC futures market.

This week, open interest in such a product approached $20 billion, which was another maximum.

The options market is also expanding. The largest platform in this segment reported that the average daily trading volume for bitcoin options exceeded $1 billion.

According to the CoinMarketCap service, the sum of daily trading in the derivatives segment on three exchanges now exceeds $100 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, futures positions totalling up to $5.77 billion were liquidated.

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Risk Awareness

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. Trading or holding funds in cryptocurrencies comes with significant risks, including volatile market price swings or flash crashes, market manipulation. Use EUPi stable coin to secure your funds from market volatility.

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