Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>The dynamics of Bitcoin futures open interest unveils an intriguing interplay between major exchange platforms, Binance and CME. The former, a global cryptocurrency exchange with a wide reach, currently holds a slightly larger piece of the pie at just over 28%. CME, primarily known for institutional trading, accounts for 26% of all futures open interest.</p> 
<figure id="attachment_369207" aria-describedby="caption-attachment-369207" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-369207 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/cme-1.png" alt="CME vs Binance: Open Interest: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/cme-1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/cme-1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/cme-1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/cme-1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/cme-1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-369207" class="wp-caption-text">
  CME vs Binance: Open Interest: (Source: Glassnode)
 </figcaption>
</figure> 
<p>In numeric terms, the total amount invested in open futures contracts equates to 400,000 <a href="http://cryptoslate.com/coins/bitcoin">Bitcoin</a>. Of this, CME has recently reached new heights, with 103,075 Bitcoin in open interest. Meanwhile, Binance maintains a lead, albeit a narrow one, with 113,419 Bitcoin. The small difference between the two exchanges portrays tight competition within the cryptocurrency futures market.</p> 
<p>This analysis underpins the evolving dynamics of the cryptocurrency market as more institutional traders get involved. The tight gap between <a href="http://cryptoslate.com/companies/binance">Binance</a> and <a href="http://cryptoslate.com/companies/cme-group">CME</a> could reflect increasing institutional interest in Bitcoin futures, a significant shift from the previously retail-driven market.</p> 
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/binance-and-cme-are-in-a-neck-and-neck-race-for-dominance-in-bitcoin-futures/">Binance and CME are in a neck-and-neck race for dominance in Bitcoin futures</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Binance and CME are in a neck-and-neck race for dominance in Bitcoin futures

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