Binance and Bitget Account for About 81% of Brent Contract Open Interest
Photo: TokenPost
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.
Source: TokenPost
