Binance keeps leadership in BTC Futures trading volume

by in Cryptocurrency News

Binance

Open interest in bitcoin futures is declining amid a cryptocurrency rollback. Now, this figure is $ 13.97 billion.

Binance continues to hold the lead in all the leading metrics in the futures market. The trading volume of this product on the platform over the past 24 hours was about $ 20 billion (according to Skew).

The second place is taken by the OKEx crypto exchange. The value of BTC futures transactions on this trading platform is just over $ 5.36 billion.

Binance also holds the lead in terms of trading volumes for Ethereum futures. The average daily amount of transactions with this product exceeds $ 9.7 billion.

Trending: Pi Network Announced Launching Pi Wallet on the Testnet

Analysts at the giant JPMorgan drew attention to the growing interest of institutional investors in Ether (ETH)).

Previously, this trend was reported by researchers from CoinShares. They also concluded that funds began to gradually switch to the largest altcoin in July and August. In September, this tactic of institutions continued.

The JPMorgan report notes that bitcoin is becoming less attractive compared to ether.

Trending: US First Bitcoin ETF Launched, Seeing Record Interest

As evidence of its conclusions, the bank cites data on the growth of premiums for futures on ETH. Over the past three weeks, they have increased by more than 1%. Ethereum products are becoming more popular every month, and this trend is likely to hold, experts say.