{"id":200281,"date":"2021-03-12T08:00:23","date_gmt":"2021-03-12T05:00:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-futures-open-interest-hits-new-ath-as-traders-flock-to-derivatives\/"},"modified":"2021-03-12T08:00:23","modified_gmt":"2021-03-12T05:00:23","slug":"bitcoin-futures-open-interest-hits-new-ath-as-traders-flock-to-derivatives","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-futures-open-interest-hits-new-ath-as-traders-flock-to-derivatives\/","title":{"rendered":"# Bitcoin futures open interest hits new ATH as traders flock to derivatives"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin futures open interest hits new ATH as traders flock to derivatives <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets.<\/p>\n<p>According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching $20 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">More capital is flowing into the derivatives markets, as the amount of outstanding <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> futures contracts reaches another ATH. <\/p>\n<p>Open interest across major exchanges is currently sitting at the verge of the $20B mark.<\/p>\n<p>Chart: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ygoffzMSJW\">https:\/\/t.co\/ygoffzMSJW<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/BiJIpyTKDD\">pic.twitter.com\/BiJIpyTKDD<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1369906654943268868?ref_src=twsrc%5Etfw\">March 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Options have also surged to see record volumes in 2021, with Derebit now regularly hosting more than<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptorank.io\/derivatives-analytics\/options\"> $1 billion<\/a> worth of daily trade.<\/p>\n<p>According to Binance-owned <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/rankings\/exchanges\/derivatives\/\">CoinMarketCap<\/a>, the three-largest centralized derivatives exchanges \u2014 Binance, Huobi Global, and ByBit \u2014 represent more than $100 billion in combined daily trade. Binance alone is $57 billion. The next ten highest-ranked exchanges facilitated more than $65 billion in trade over the past 24 hours.<\/p>\n<p>However, despite the surging volumes, some decentralized derivatives exchanges appear to be struggling to attract the momentum of their centralized counterparts.<\/p>\n<p>Skyrocketing Ethereum fees appear to have slowed the growth of decentralized options, with the complicated smart contract executions required to interact with some Ethereum-based protocols resulting in gas prices of more than $1,000.<\/p>\n<p>Similarly record fees also appear to have deterred traders from Ethereum-powered decentralized futures, with daily volume on dYdX plummeting from tens of billions in January to roughly $100 million over the past week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/6c75d62c-2a27-447b-b624-83f0d9a9a6b8.png\"><figcaption style=\"text-align: center;\">Daily volume on dYdX: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nomics.com\/exchanges\/dydx#chart\">Nomics<\/a><\/figcaption><\/figure>\n<p>Recent liquidity issues on the popular on-chain options trading protocol Hegic are also impacting Etherum\u2019s decentralized option markets.<\/p>\n<p>On March 11, Ribbon Finance founder Julian Koh announced the protocol\u2019s \u201cStrangle\u201d product had been temporarily disabled due to there being \u201cno liquidity in the Hegic pools.\u201d Koh also noted disruptions to Ribbon\u2019s price feed resulting from ongoing upgrades to DeFi options protocol Opyn.<\/p>\n<p>On Discord, Ribbon\u2019s founder noted the team is currently working on integrating with fellow DeFi options protocol, Charm Finance, \u201cas a new liquidity source to solve the liquidity issue.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-futures-open-interest-hits-new-ath-as-traders-flock-to-derivatives\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin futures open interest hits new ATH as traders flock to derivatives &#8221; With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets. According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across&#8230;<\/p>\n","protected":false},"author":1,"featured_media":200282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMDA1ZDQ0NTQtODEzNy00MWU3LTllZTMtNmI2MmRjY2EyZGQ2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74972,81209,74937,74863,74860,74868,75012,117],"class_list":["post-200281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-futures","tag-bitcoin-options","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-derivatives","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/200281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=200281"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/200281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/200282"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=200281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=200281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=200281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}