**Bitcoin Open Interest Surges Past $40 Billion For First Time**
For the first time ever, Bitcoin’s open interest has exceeded $40 billion, reaching a record high of 593,020 BTC ($40.65 billion), according to data from Coinglass. This surge highlights the growing popularity of crypto derivatives among investors navigating post-halving market conditions.
Key Facts:
* Chicago Mercantile Exchange (CME) leads with an open interest of 180,750 BTC ($12.37 billion), making up 30.42% of the total; Binance follows closely behind with 122,890 BTC ($8.43 billion).
* Over the last day, total open interest rose by 2.19%; significant increases were seen in Bitget (+2.6%) and OKX (+1.47%). Overall rates remain stable, suggesting steady investor involvement in Bitcoin futures markets.
* Despite being only 7% away from its all-time high value, this rising trend indicates sustained demand for bitcoin derivatives amidst changing market dynamics following halving events which reduce block rewards every four years to limit inflationary pressures on supply chains while encouraging adoption through lower costs associated w/ transactions using digital currencies like bitcoin instead traditional fiat currency systems such as USD & EUR etc..
