CME becomes second-largest Bitcoin futures exchange, surpassing Binance
CME’s notional open interest has surged to $3.57 billion, securing its position as the second-largest exchange in the trading of standard Bitcoin and perpetual futures. The Chicago Mercantile Exchange (CME), a regulated entity, is ascending the ranks among the largest exchanges for Bitcoin (BTC) futures and perpetual futures trading by open interest, evoking memories of the initial phases of the 2020-2021 bull market. According to Coinglass, CME has seen its notional open interest (OI) rise to $3.57 billion, elevating it to the second-largest Bitcoin futures exchange from its previous fourth-place standing just weeks ago. Notional open interest is defined as the U.S. dollar value tied to the number of active or open contracts. Binance, an offshore unregulated exchange, continues to dominate the market with a notional open interest of $3.85 billion, which is about 8% higher than that of CME. However, CME has recently achieved a milestone by surpassing 100,000 BTC in open inte...