5 days before the Bitcoin halving event, open positions in CME reached $ 400 million. This means a new record.

According to the information obtained from Skew, CME Group’s Bitcoin futures reached the all-time high. CME’s open positions were $ 399 million and broke the record level of $ 392 million in June 2019. The open position had dropped to $ 150 million after Bitcoin’s sudden 60 percent price collapse in March. Since then, the rate of growth in an open position has been described as impressive.

No Change in Trade Volume
At the same time, however, the overall volume of CME futures remained low. The company used the following statements:

“Nevertheless, the daily trading volume does not see the same growth, which shows that there is less trade-oriented activity in CME.”

According to Arcane Research, this increase is not reflected in trade. As such, CME is breaking a record in itself, but still lags behind its competitors.

LEAVE A REPLY

Please enter your comment!
Please enter your name here