Open interest in Bitcoin derivatives hit new highs this week

This week saw open interest in bitcoin options and futures surge to new highs, according to data collected by The Block Research.

On Sunday, open interest for bitcoin options reached $4.81 billion. Open interest refers to the total amount of contracts that have yet to be settled at a given time.

Eighty-one percent of bitcoin options open interest was on market leader Deribit, followed by Bit.com (6%) and CME (5.4%).

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Open interest on Bitcoin futures reached $7.38 billion, a new high, the following day, per the data. OKEx led the way at 18.9%. Binance and CME were nearly tied at 15.6% and 14%, respectively. 

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.