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Shift from crypto to cash-margined contracts continues post-2024 halving

CoinSurges
By CoinSurges

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On-chain Highlights

DEFINITION: The percentage of futures contracts open interest that is margined in the native coin (e.g. BTC), and not in USD or a USD-pegged stablecoin.

Bitcoin’s percentage of crypto-margined futures open interest on all exchanges shows notable fluctuations. The percentage declined from around 23% in January 2024 to approximately 20% by mid-February, aligning with a rising Bitcoin price. Notably, after the April 2024 halving, the metric saw heightened volatility, spiking above 27% before retreating below 24% by June.

Bitcoin: Percent Futures Open Interest Crypto-Margined: (Source: Glassnode)
Bitcoin: Percent Futures Open Interest Crypto-Margined: (Source: Glassnode)

Looking at the historical data from 2021 to 2023, the percentage steadily decreased from around 70% to 25%, reflecting a broader shift towards cash-margined contracts.

Bitcoin: Percent Futures Open Interest Crypto-Margined: (Source: Glassnode)
Bitcoin: Percent Futures Open Interest Crypto-Margined: (Source: Glassnode)

The post Shift from crypto to cash-margined contracts continues post-2024 halving appeared first on CryptoSlate.

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.