The market share of cryptocurrency derivatives exchange FTX has almost doubled since the end of June, from 9% to 16%, according to the report from research company Arcane Research:
“The exchange has long been the second largest futures market in the cryptocurrency sector. Its performance on Bitcoin futures until recently lagged behind OKEx, CME and Bybit.”
According to the study, Binance still dominates the cryptocurrency derivatives sector with a 24% share, followed by FTX and Bybit, in second and third positions, respectively.
Regarding the global open interest rate, it exceeded the $15 billion mark for the first time since May.
The experts of the company said:
“Institutional interest in Bitcoin still seems insignificant, as the share of CME in global OI is 10%, which is an annual low.”
A couple of weeks ago FTX announced it had raised $900 million, which pushed the company’s valuation to $18 billion.