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Bitcoin continues to make waves in the news as it sets new records of open interest on major exchanges. This time around, OKEx, a popular crypto-asset exchange, has reported open interest for Bitcoin futures to be higher than that of BitMex, who had previously held the upper hand. This marks a major paradigm shift in the world of cryptocurrency and is worth noting.
Bitcoin [BTC] Open Interest at OKEx Exceeds BitMex, A Paradigm Shift?
OKEx’s open interest for Bitcoin futures was reported to be around $187 million, surpassing the $184.1 million held by BitMex. This is the first time that OKEx has taken the lead in terms of open interest, completely changing the paradigm of the crypto-asset exchange.
The news comes just days after the launch of Bakkt, which has reportedly seen a comparable trading volume to BitMex in just its first week of trading. This indicates a booming demand for new crypto-asset exchanges and products, such as Bakkt.
Bakkt First Week Volume Comparable to 4 Minutes Of Bitcoin Trading On BitMex
It’s worth noting that the first week of trading with Bakkt was comparable to just 4 minutes worth of Bitcoin trading on BitMex! This further reinforces the notion of a bull market in cryptocurrency and may ultimately threaten the dominance of existing top exchanges.
Furthermore, the launch of Bakkt has answered questions related to Bitcoin’s volatility, as the exchange is backed by trusted financial institutions, providing security, accountability and protection to users. This has been a great step forward in the world of cryptocurrency, which will continue to shape the landscape of the industry as more new platforms pop up.
The new open interest for Bitcoin futures on OKEx has successfully pushed back the dominance of BitMex, and could lead to an influx of more crypto-asset exchanges hitting the market. Bakkt’s success and the new record from OKEx hints at promising times ahead for the cryptocurrency industry in terms of market volume, security, accountability and more.
If you are searching about Bitcoin Futures you’ve came to the right place. We have 35 Pictures about Bitcoin Futures like Alert: Wall Street is behind maximum bitcoin futures trading – Coinnounce, Bitcoin [BTC] Open Interest at OKEx exceeds BitMex, A Paradigm shift? and also Bitcoin Futures Open Interest Exceeds $4 Billion: Over 60% Rise In 2020. Read more:
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