Add as a preferred source on GoogleBinance and Bitget Account for About 81% of Brent Contract Open Interest
Binance represented about 72% of the $319 million total, with roughly $230 million in outstanding contracts on its platform.
On Oct. 21, Brent crude oil (BZ) contracts on Binance and Bitget carried about $259 million in open interest, placing roughly 81% of the $319 million total on two platforms.
Binance accounted for about $230 million, or 72% of the total. Bitget, the second-largest venue in the figures, recorded about $28.6 million. Together, the two platforms represented about $259 million in contracts still open.
Open interest measures contracts that remain active, including both long and short positions. The combined share shows where those positions were recorded, but it does not show which direction traders expect the oil price to move.
The contracts were on the exchanges’ platforms; the totals are not positions owned by Binance or Bitget. Open interest also differs from trading volume, which measures transactions over a period rather than contracts that have not been closed.
BZ reached $111.99 during trading Oct. 20, then retreated. It later moved back to about $110.02.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.