Ethereum

Based

2024

Open interest for Bitcoin and Ethereum in futures markets each hit a new all-time-high in the past 24 hours of trading, following Bitcoin’s flirtation with $100,000. 
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 <img loading="lazy" decoding="async" width="1778" height="1000" src="https://crypto.news/app/uploads/2024/11/BTCUSDT.P_OI_2024-11-22_20-08-40-1.png" alt="BTC and ETH Open Interests hit new all-time-high as Bitcoin nears $100k - 36" class="wp-image-14313150">
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 BTC OI reaching an ATH in the past 24 hours, November 22, 2024 | Source: <a href="https://coinalyze.net/bitcoin/open-interest/" target="_blank" rel="nofollow">coinalyze</a>
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 <img loading="lazy" decoding="async" width="1778" height="1000" src="https://crypto.news/app/uploads/2024/11/ETHUSD.P_OI_2024-11-22_20-08-36-1.png" alt="BTC and ETH Open Interests hit new all-time-high as Bitcoin nears $100k - 37" class="wp-image-14313152">
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 ETH OI reaching an ATH in the past 24 hours, November 22, 2024 | Source: <a href="https://coinalyze.net/ethereum/open-interest/" target="_blank" rel="nofollow">coinalyze</a>
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On Nov. 22, Bitcoin(<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) OI has reached a peak of $57 billion in the past 24 hours. Meanwhile, Ethereum(<a rel="" href="https://crypto.news/price/bitcoin/">ETH</a>) OI went up 12% to an all-time high of $20.8 billion within the same time period. Both cryptocurrencies have accumulated their highest accumulated Open Interest following slumps at the beginning of the month. 
Open interest is a metric in the crypto industry that is used to shows the amount of outstanding futures contracts employed in exchanges. A higher interest level indicates that a crypto asset is more liquid and in significant demand. 
This surge came a few hours after Bitcoin reached <a rel="" href="https://crypto.news/bitcoin-at-100k-retail-investors-still-hold-the-reins/">a new all-time high</a> of $99,486, getting even closer to the $100,000 mark. Ethereum also saw a rise of 7% 
 You might also like: <a rel="" href="https://crypto.news/bitcoin-at-100k-retail-investors-still-hold-the-reins/"> Bitcoin nears $100K while retail investors dominate market </a> 
Based on data from <a href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank" rel="nofollow">Coinglass</a>, BTC Open Interest is currently at $64.08 billion, with most of it coming from <a rel="" href="https://crypto.news/tag/cme/">CME</a>. CME holds more than 33% of the total Bitcoin futures OI with 216,820 BTC, valued at $21.23 billion. 
This is followed by <a rel="" href="https://crypto.news/tag/binance/">Binance</a>, the largest crypto exchange by trading volume, holding 19.2% of the total BTC OI, with an open interest of over 124,740 BTC worth around $12.22 billion. 
<a rel="" href="https://crypto.news/tag/bybit/">Bybit</a> occupies third place with 13.39% of BTC OI, reaching 87,020 BTC or $8.53 billion, while Bitget and OKX stand in the top five, each holding 9.87% and 8.4% respectively. 
On Ethereum’s side, ETH OI sits at a total of $20.08 billion. Unlike Bitcoin, Binance accounts for the majority of ETH Open Interest, holding 31.19% of the total with 1.9 million ETH, valued at $20.09 billion 
Bybit comes in second with 18.18% of ETH OI, holding 1.11 million ETH worth around $3.65 billion. In third place is CME, with 663,180 ETH, valued at $2.19 billion. CME holds around 10.88% of the market’s total ETH OI. 
OKX and HTX make it into the top five, with each exchange holding 9.38% and 7.82% respectively. 
 You might also like: <a rel="" href="https://crypto.news/chainalysis-eth-scams-linked-to-japanese-crypto-exchanges-drop-69-in-h1-2024/"> Chainalysis: ETH scams linked to Japanese crypto exchanges drop 69% in H1 2024 </a>

BTC and ETH Open Interests hit new all-time-high as Bitcoin nears $100k

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