Binance could lose its top spot as institutions pour $326 million into crypto investment products

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The world’s largest derivative market is now close to becoming the world’s leading Bitcoin Futures market as well, potentially replacing Binance.

Binance is facing a challenge from the CME Group as the world’s biggest Bitcoin Futures market, with a difference of just $300 million. The increase in institutional interest is one of the biggest contributors to this phenomenon, who are more prone to trade on CME exchanges. The past week registered $326 million worth of inflows into crypto products, the highest since July 2022.

Owing to the ongoing Breakpoint conference, SOL is on every investor’s watchlist, whereas Ethereum noted outflows worth $6 million in the same duration. Institutional investment inflows by asset The sudden increase in institutional investment is a sign that optimism clearly plays the most important role in determining interest, and the potential of Bitcoin ETF approval is certainly a major driving factor of said optimism.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines