Bitcoin Futures Surge: Open Interest Hits $68.23 Billion Across Major Exchanges

According to recent data from Coinglass, as of May 17th, the cumulative open interest for Bitcoin futures contracts reached an impressive 653,550 BTC, valued at approximately $68.23 billion. This figure underscores the robust trading activity within the crypto market. Dominating the landscape, the CME reported an open interest of 152,380 BTC (around $15.9 billion), securing its position as the leading exchange for Bitcoin futures. Following closely, Binance showcased significant participation with an open interest of 112,370 BTC (approximately $11.73 billion), demonstrating its strong foothold in this sector. Such metrics reflect the ongoing investor interest and market dynamics, emphasizing the importance of futures contracts in the broader cryptocurrency ecosystem.