The Chicago Mercantile Exchange (CME), a trading platform aimed at institutional investors, has just returned to the second place of the ranking of largest BTC futures exchanges in terms of open interest, CoinDesk has reported.
While some might think this change in the ranking could be the result of an increase of institutional investors, it seems that the real reason is simply a decline in the open interest on other platforms.
As such, the open interest on Bybit fell last Wednesday by almost $1 billion, a figure that rose to $1.2 billion in the case of OKEx, and to $1.7 billion in the case of Binance. However, this decline was not that deep on CME, where open interest dropped by only $30 million.
As a result of these changes, the Chicago Mercantile Exchange currently accounts for $1.92 billion, which represents a 15.5% of the total open interest ($12.38 billion), data from analytical service Skew shows.
The first position is for Binance, with an open interest of $2.17 billion.