Open curiosity in Bitcoin futures rose 7.1% in March, whereas that in Ethereum futures fell 5.8%, in response to Block Analysis.
When it comes to futures buying and selling quantity, month-to-month bitcoin futures buying and selling quantity in March elevated by round 64.7%, reaching US$1.26 trillion.
Moreover, bitcoin futures positions on the Chicago Mercantile Alternate (CME) rose 15.3% in March to $2.09 billion. Each day buying and selling quantity additionally jumped 16.5% to $1.45 billion. The month-to-month Ethereum futures buying and selling quantity reached $659 billion, a progress fee of 32.1%.
Within the cryptocurrency choices house, bitcoin and ethereum choices have seen a rise in open curiosity. Open curiosity for Bitcoin choices jumped 92%, whereas that for Ethereum choices elevated by round 33.3%.
Bitcoin and Ethereum choices volumes additionally elevated, with Bitcoin choices quantity up 68.2% to $29.6 billion in March, whereas Ethereum choices quantity elevated by 19.2 % to $12.4 billion.
These figures present that the cryptocurrency market has skilled important progress in latest months, particularly Bitcoin.
As bitcoin continues to develop in recognition, extra buyers have flocked to the digital asset, growing its buying and selling quantity and open curiosity. The rise in cryptocurrency choices buying and selling volumes additionally signifies rising investor curiosity in hedging their cryptocurrency investments.
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