Open interest on Ethereum futures rose to $ 1.46 billion. The new ATH came a few days after Bitcoin futures had a similar success. On August 1, the open interest rate rose to $ 5.58 billion, the highest point since mid-February, just before the crypto market continued a major correction.
OKEx Ranks First
Malta-based cryptocurrency exchange OKEx leads the way with contracts worth $ 321.06 million.
OKEX’s competitor from Singapore, Huobi, is in second place. The open interest rate for Ethereum contracts currently stands at $ 308.55 million, following OKEx with a very thin margin, with a margin of 0.8 percent.
Together with BitMEX, OKEX and Huobi are responsible for 61.64 percent of all market activities for Ethereum futures.
FTX and Binance are in fourth and fourth place, respectively.
In the options section, ETH’s open interest has also increased six-fold over the past three months, making up 90 percent of all positions on the unregulated Dutch exchange Deribit.
Regulated Ether Futures Coming
As the cryptocurrency space matures, Tim McCourt of CME Group claims that more investors will flock to “trusted domains”:
“When it enters the cryptocurrency space with more sophisticated contributors, the volume will inevitably shift towards safer, more reliable areas.”
Ether futures are said to be launched within the next six months.
New York-based ErisX launched Ether futures in March, but CME Group has not yet ventured into the second largest cryptocurrency.