The popularity of Bitcoin Cash margin futures contracts has reached a new high, with CME contract open interest nearing historical peaks
ChainCatcher news, according to CoinDesk, as of October 15, 2024, the popularity of Bitcoin Cash margin futures contracts has reached an all-time high. Glassnode data shows that the open interest for cash margin futures has hit a record high of 384,000 Bitcoin (approximately $25.5 billion), surpassing the peak of 376,000 Bitcoin in November 2022.Currently, the total open interest for Bitcoin futures is close to its historical high, at about 478,000 Bitcoin ($31.8 billion). Among them, the futures contracts on the Chicago Mercantile Exchange (CME) account for 40% of the cash margin open interest, indicating a growing participation from institutional investors. Meanwhile, the open interest for cryptocurrency margin futures has continued to decline over the past two years, dropping from 210,000 Bitcoin to 87,000 Bitcoin, currently accounting for only 18.2% of the total open interest.