CME Bitcoin Futures Reports Open Interest Surge

Hey ninja’s, how’s the trading going? On the day, the majority of the top 20 cryptocurrencies are reporting moderate gains. In the last 24 hours, Bitcoin is up 2% and is trading at $8,874. The second and third largest cryptocurrencies Ether and XRP are both up over 4% in the last 24 hours and are trading at $170 and $0.23 respectively.  

According to data from the CME Group, on the 16th of January, the interest for the CME Group futures products reached the sum of 5,328 contacts (26,640 BTC-$237 million). The platform looks set to reach new levels this month as its volume for future product surges.

The uptrend of BTC/USD this week seems to have had an effect on the overall futures trading volume. According to data from Skew Markets (Monitoring resource), the worldwide volume of futures hit $25 billion. 

According to data from the United States regulator the Commodity Futures Trading Commission, earlier in January, the open interest levels were higher than its current level by 72. Earlier in the month, open interest for its future products totaled around 5,400 contracts according to data published by the CFTC on the 7th of January.

Don’t always forget to holla at Ninja Discord anytime to talk about cryptocurrency. You can as well check out our exclusive Ninja coin giveaways and Trading View analysis.  

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