Does Wall Street fully control crypto now? — TradingView News
Key takeaways:
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CME’s futures open interest in the top four cryptocurrencies reached $28.3 billion, surpassing Binance’s $23 billion and Bybit’s $12.2 billion.
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Despite CME’s lead in open interest, unregulated exchanges still dominate trading volumes, especially in altcoin and perpetual futures.
Friday’s cryptocurrency market crash wiped out a record $74 billion in leveraged positions across the industry. Although prices recovered more than half of the losses within a few hours, the damage to futures open interest had already been done. The movement triggered an unexpected shift that could mark the “end of an era” for unregulated cryptocurrency derivatives markets.
Exchanges faced massive liquidations and auto-deleveraging as…
