Chicago Mercantile Exchange (CME) is starting to play an increasingly important role in the derivative Bitcoin market.
Value of positions opened for Bitcoin futures contracts on CME to $3.57 billion soared and CME thus closed for Bitcoin futures. second largest stock exchange became. According to Coinglass data, CME was the fourth largest exchange until a few weeks ago.
This climb of CME is similar to the one seen in 2020-2021. of the bull run It has similar characteristics to its early periods.
Binance, the world’s largest cryptocurrency exchange in terms of transaction volume, tops the list with an open position of $3.84 billion.
The total value of futures contracts on CME, where settlements are made in cash, has recently increased Record breaking 100,000 BTC broke. CME thus increased its share in the Bitcoin futures market. increased up to 25%.
Some to analysts According to this movement seen in CME, Institutional investors also have a share in the increase in Bitcoin price is showing. Bitcoin, which exceeded $35,000 a few days ago, is trading at approximately $34,400, according to CoinGecko data.
A CME executive speaking about the rise in Bitcoin price, Institutional investors are active in crypto money he said.