Open interest in Bitcoin futures on the derivatives platform BitMEX has surpassed $1B for the first time since the March crash, according to data provided by analysis resource Skew.
This indicator reached over $1.2B before the March collapse.
This increase in open interest in Bitcoin futures on Tuesday coincided with the rise in Bitcoin to $9,400 yesterday, according to crypto exchange Bitstamp.
Greg Dwyer, BitMEX's head of business development, said in a statement:
"Open Interest on BitMEX has been climbing steadily, and we’re encouraged to see it surpass the symbolic $1 billion mark again."
However, both Bitcoin volatility and trading volumes remain low as traders are waiting for some major price movement in either direction.
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