Open interest in bitcoin futures increased by 7.1% in March, while that in ethereum futures fell by 5.8%, according to Block Research.
In terms of futures trading volume, the monthly trading volume of Bitcoin futures in March increased by about 64.7%, reaching 1.26 trillion US dollars.
Additionally, positions in bitcoin futures on the Chicago Mercantile Exchange (CME) increased by 15.3% in March to $2.09 billion. Daily trading volume also surged 16.5% to $1.45 billion. The monthly trading volume of Ethereum futures reached $659 billion, a growth rate of 32.1%.
In the cryptocurrency options space, both bitcoin and ethereum options saw an increase in open interest. Open interest in bitcoin options has surged 92%, while that in ethereum options has increased by about 33.3%.
Bitcoin and Ethereum options volumes also surged, with Bitcoin options volume up 68.2% to $29.6 billion in March, while Ethereum options volume rose 19.2% to $12.4 billion.
These figures show that the cryptocurrency market has been experiencing significant growth in recent months, especially Bitcoin.
As bitcoin continues to gain mainstream acceptance, more investors have flocked to the digital asset, driving up its trading volume and open interest. The surge in cryptocurrency options trading volumes also indicates investors’ growing interest in hedging their cryptocurrency investments.