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In mid-June, Bitcoin experienced significant volatility, dropping below $67,000 due to supply pressures and market adjustments. Despite the downturn, Bitcoin managed to stabilize around $65,000 over the weekend, while Ethereum recovered to $3,500. CoinGlass data <a href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank" rel="noopener noreferrer nofollow">revealed</a> a decline in Bitcoin futures open interest, which still stayed above $35 billion.
Amid the market’s instability, Bitget, a leading cryptocurrency exchange, <a href="https://markets.businessinsider.com/news/currencies/bitget-records-highest-capital-inflow-and-open-interest-surged-39-2-in-may-reaching-9-74-billion-1033486489" target="_blank" rel="noopener noreferrer nofollow">reported</a> an increase in metrics for May. The exchange saw a 39.2% spike in open interest, reaching $9.74 billion, the highest among centralized exchanges, as per CCData.
Notably, Bitget attracted $975.4 million in capital inflows, marking significant industry leadership, according to DeFiLlama. The report published by Bitget names among the factors contributing to this resilience is a strong focus on new token listings and new offerings. Over the past month, the platform listed 62 new tokens, including high performers like $TURBO and $WOJAK, and saw over 120,000 participants staking 427 million USDT on its PoolX platform.
Year-to-date, Bitget has outperformed in the spot markets, achieving the largest gains among exchanges, as <a href="https://cointelegraph.com/news/bitget-exchange-volume-tops-1-6-trillion-q1%5C" target="_blank" rel="noopener noreferrer nofollow">reported</a> by Cointelegraph in May. Its market share increased by 2.01%, reaching 38%, surpassing Binance’s 33.8%. In April alone, Bitget’s share in derivatives volume of $4.5 trillion reached $652 billion, highlighting its significant impact and leadership in the market.
Meanwhile, decentralized exchange Uniswap <a href="https://www.cryptonewsz.com/uniswap-bounces-back-64-25-percent-surge-in-open-interest-signals-bullish-trend/#:~:text=The%2064.25%25%20increase%20in%20open,referred%20to%20as%20open%20interest." target="_blank" rel="noopener noreferrer nofollow">experienced</a> a significant increase in open interest of 64.25%, indicating strong trader and analyst interest.&nbsp;
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The post <a href="https://captainaltcoin.com/bitget-and-uniswap-show-spike-in-oi-amid-crypto-market-turbulence/" rel="noopener noreferrer nofollow">Bitget and Uniswap Show Spike in OI Amid Crypto Market Turbulence</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.

Bitget and Uniswap Show Spike in OI Amid Crypto Market Turbulence

CaptainAltcoin

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