- Glassnode unveiled that Bitcoin’s Futures Daily Volumes have reached a 3 month low of $75,938,113.14 on the FTX exchange.
- The previous 3 month low that FTX had experienced was a week ago on July 5th when the Bitcoin Future Daily Volumes hit $76,211,621.86.
Glassnode unveiled that Bitcoin Futures Daily Volumes have reached a 3 month low of $75,938,113.14 on the FTX exchange. The previous 3 month low that FTX had experienced was a week ago on July 5th when the Bitcoin Future Daily Volumes hit $76,211,621.86. Glassnode is a crypto and blockchain analysis agency which provides exclusive coverage of on-chain of various cryptocurrencies.
Previous 3-month low of $76,211,621.86 was observed on 05 July 2020
— glassnode alerts (@glassnodealerts) July 12, 2020
FTX Offers More Than 60 Cryptocurrency Contracts
FTX is a cryptocurrency platform mainly known for its derivatives trading and was established by Alameda Research in 2019. It has a wide range of variety when it comes to future contracts. As of now FTX offers over 60 contracts all with daily, weekly, and quarterly-expiration dates. FTX first introduced the Bitcoin option in this year on January 13th with all kinds of contracts with expiration dates ranging from one day to five-and-a-half months.
Overview Of Open Interest And 24 Trade Volume Of FTX’s Bitcoin Futures
Currently, the two Bitcoin futures contracts are denoted by the symbols BTC-0925 and BTC-1225. The last traded price of BTC-1225 was approximately around $ $9,486.00 down by 0.1% in the last 24 hours with the open interest standing at $8,795,853. Open interest is the measure of the total amount of outstanding derivative contracts that hasn’t been settled.
On the other hand, the last traded price of the derivative contract BTC-0925 was approximately at $9,388.50 which was down by 0.1% in the last 24 hours and the open interest for the contract stood at $19,371,765.
The total volumes of the traded derivative contracts for both BTC-0925 and BTC-1225 were $4,851,713.78 and $2,246,843.31 respectively.
High Open Interest And Low Trading Volumes Indicates That The Investors Are Holding Up Their Positions
However, the open interest of the contracts have been high for the last few days despite the volume reaching the 3 month lows. This is often considered as a sign that the investors are holding up their positions. In other words, Bitcoin will continue to exhibit its existing trend. From the last few days Bitcoin has been having a hard time trying to keep above the $9300 mark. In the last 24 hours Bitcoin’s price has been swinging in the $9100 to $9300. Currently, Bitcoin is trading at $9,292.70 which is 0.07% less than in the last 24 hours. The 24 hour high is $9,349.00 and the 24 hour low $9,170.74.