Bitcoin Futures Open Interest Smashes $15 Billion, CME Registers Over $33 Million in ETH Contracts – Finance Bitcoin News
Following the announcement that Tesla now has $1.5 billion in Bitcoin, the cryptocurrency market exploded worldwide. Data shows that the encrypted derivatives markets also saw strong demand, with Bitcoin futures contracts reaching $15 billion on Monday. In addition, ether futures began trading this week on the CME Group exchange, generating $33 million on the first day of launch.
Open interest on Bitcoin futures contracts rises to $15 billion
Bitcoin derivatives (BTC) markets are in high demand these days, as are other cryptocurrencies such as Ethereum (ETH) and Bitcoin Cash (BCH) derivatives. Recently, Bit.com announced the launch of BCH options, whose volumes have doubled every day since its launch.
Then, on February 8, 2021, it was announced that Tesla had purchased $1.5 billion worth of BTC, and the crypto asset had its largest daily candle to date. In addition, the stock has also sparked massive demand for BTC futures, and skew.com crypto derivatives analysts tweeted about it on Tuesday.
Twitter is unfair:
Bitcoin futures attract new interest – over $15 billion yesterday.
Open Interest is a composite of all derivatives exchanges that offer futures contracts on Bitcoin, including Kraken, Bybit, CME, Bitfinex, Bitmex and many others. On Monday, Mr. Skew also noted that “short positions are developing at the expense of CME Bitcoin futures contracts. ”
Skew also talks about the recently launched ETH futures at WEC. The ETH/BTC was sold on Twitter the next day, Tuesday. “ETH/BTC implies that the flight spread has collapsed,” Skew added.
Forward contracts of $33 million on first day of transactions with CME Group based on ether futures
CME Group Inc (NASDAQ:CME) also launched a futures product based on ETH on Monday, and the contracts were named ETH1. The contracts started as soon as the market opened, and by closing time 388 contracts worth more than 19,400 ETHs had been registered.
After the launch of Ethereum futures on the CME, ETH spot markets peaked at over $1,800 per token in 2021. The price of Ethereum has come out of this range and is now just above the $1,700 mark.
Michael Moro, CEO of Genesis Global Trading, spoke about CME’s launch on Monday, saying that CME Group has helped elevate digital currencies to a new asset class. “CME Group is a key participant in the ongoing institutionalization of this asset class, and the launch of Ether futures is another important milestone,” Mr. Moro said.
“Genesis looks forward to continuing to work closely with the WEC in this area,” he added.
What do you think of the increased demand for cryptocurrency products and derivative markets? Let us know what you think in the comments below.
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$120k, $140k, $30K, Binance, Bitcoin-Derivate, Bitcoin-Futures, Bitcoin-Optionen, bitFlyer, BitMex, BTC, BTC-Futures открытый интерес, Bybit, CME Group, deribit, ETH-Futures, Ethereum-Futures, Finanzen, ftx, Huobi, Okex, Open Interest, Skew.com, Stats, Volumes
Image credits: Shutterstock, Pixabay, Wiki Commons, CME Group ETH1 statistics, Skew.com, Twitter,
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