Bitcoin Futures Quantity Surges 64.7% in March to $1.26 Trillion

Open curiosity in bitcoin futures elevated by 7.1% in March, whereas that in ethereum futures fell by 5.8%, based on Block Analysis.

By way of futures buying and selling quantity, the month-to-month buying and selling quantity of Bitcoin futures in March elevated by about 64.7%, reaching 1.26 trillion US {dollars}.

Moreover, positions in bitcoin futures on the Chicago Mercantile Change (CME) elevated by 15.3% in March to $2.09 billion. Each day buying and selling quantity additionally surged 16.5% to $1.45 billion. The month-to-month buying and selling quantity of Ethereum futures reached $659 billion, a progress fee of 32.1%.

Within the cryptocurrency choices area, each bitcoin and ethereum choices noticed a rise in open curiosity. Open curiosity in bitcoin choices has surged 92%, whereas that in ethereum choices has elevated by about 33.3%.

Bitcoin and Ethereum choices volumes additionally surged, with Bitcoin choices quantity up 68.2% to $29.6 billion in March, whereas Ethereum choices quantity rose 19.2% to $12.4 billion.

These figures present that the cryptocurrency market has been experiencing vital progress in latest months, particularly Bitcoin.

As bitcoin continues to achieve mainstream acceptance, extra traders have flocked to the digital asset, driving up its buying and selling quantity and open curiosity. The surge in cryptocurrency choices buying and selling volumes additionally signifies traders’ rising curiosity in hedging their cryptocurrency investments.