1. PixelPlaygroundHome
  2. Metaverse Insights

The Chicago Mercantile Exchange Reports High Volume of Bitcoin Transactions in 2023

• Metaverse Insights • 183 views

It is reported that on February 24, 2023, the Chicago Mercantile Exchange (CME) reported the volume of Bitcoin transactions as follows: 13594 Bitcoin futures e…

The Chicago Mercantile Exchange Reports High Volume of Bitcoin Transactions in 2023

It is reported that on February 24, 2023, the Chicago Mercantile Exchange (CME) reported the volume of Bitcoin transactions as follows: 13594 Bitcoin futures electronic contracts were traded, 104 OTC contracts were traded, 13698 were traded, 15899 were open positions, and 74 positions were up from the previous day.

There were 15899 open positions in Bitcoin futures electronic contracts, up 74 from the previous day

Interpretation of the news:


The Chicago Mercantile Exchange (CME) reported a significant increase in the volume of Bitcoin transactions on February 24, 2023. The exchange was specifically referring to the traded contracts for Bitcoin futures electronic contracts and Over-the-counter (OTC) contracts, as well as open and up positions. According to the report, 13594 Bitcoin futures electronic contracts were traded, indicating a great interest in the digital currency. Additionally, there were 104 OTC contracts that were also bought and sold, however, specific details and parties involved in the transactions were not provided in the report.

The reported high volume of transactions is an indication of the massive adoption of Bitcoin as a viable investment vehicle, which has grown exponentially over the years. It is worth noting that the CME launched Bitcoin futures in 2017, and the product has since attracted many investors, who have taken great interest in the digital currency. The CME is one of the world’s leading financial marketplaces, and the increasing volumes of Bitcoin transactions are a clear signal that the financial industry is taking digital assets seriously.

Open positions, which are the number of outstanding futures contracts that haven’t been closed or delivered, stood at 15899. The significance of open positions is that they represent investors’ sentiment towards the long-term future of Bitcoin. As such, an increase in open positions is an excellent indication of market optimism.

The report further indicated that there were 74 positions that were up from the previous day. This information is crucial because it shows that Bitcoin is gaining significant momentum, which could also influence other cryptocurrencies’ prices positively, thereby promoting further growth in the digital asset market.

In conclusion, the reported high volume of Bitcoin transaction essentially shows that Bitcoin is slowly gaining mainstream acceptance, and it is already perceived as a viable long-term investment option, going into the future. For Bitcoin enthusiasts, this report should be viewed as positive news, especially considering the positive sentiments expressed in the recent report by the Chicago Mercantile Exchange.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/3261/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/25/2023 05:39
Next 02/25/2023 06:08

Recommended articles