Perpetual Open Interest on Major Platforms Falls to About $67 Billion

Perpetual contract open interest on major trading platforms fell to about $67 billion from $81 billion over the past year, while activity in contracts tied to traditional assets expanded.

Open interest measures the value of outstanding positions in perpetual contracts. Contracts tied to real-world assets (RWA), including stocks and commodities, have expanded, while leveraged-trading activity has yet to return to previous levels.

Over the same period, open interest in Bitcoin (BTC) and Ether (ETH) perpetuals declined, as did open interest for other tokens. Growth in traditional-asset contracts offset only part of those declines.