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Institutional Demand Surges: CME Tops Binance in Bitcoin Futures 1m ago by coinedition.com

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The Chicago Mercantile Exchange (CME) has become the largest bitcoin futures exchange by open interest.

CME has $3.99 billion in open positions across 108,900 bitcoin contracts.

Binance trails CME with $3.77 billion in open interest, down 12.76% in the last 24 hours.

The Chicago Mercantile Exchange (CME) has surpassed crypto exchange Binance as the largest bitcoin futures exchange by open interest. According to data from Coinglass, CME now has $3.99 billion in open positions across 108,900 bitcoin contracts. This represents 24.3% of the total bitcoin futures market.

CME BTC futures contract positions increased by 4.17% in the past 24 hours to 111,100 BTC, with a position value of $4.08 billion, accounting for 24.77% of the entire network. For the first time in history, it has surpassed Binance (103,800 BTC) and has become the exchange with…

— Wu Blockchain (@WuBlockchain) November 10, 2023

Binance trails CME with $3.77 billion in open interest, down 12.76% in the last 24 hours. Its 102,790 bitcoin contracts now make up 22.97% of the total market. CME’s rise to become the top bitcoin futures exchange by open interest highlights growing demand from instit…

The post Institutional Demand Surges: CME Tops Binance in Bitcoin Futures appeared first on Coin Edition.