Another significant growth has been recorded in Bitcoin Open Interest, just one month after the last one, as Bitcoin continues to linger under $10,000.
The slow but steady rise in Bitcoin price has been quite encouraging for traders and investors to hold strong with their hope for Bitcoin price rise following the halving event. As an addition, the activities around the leading crypto assets have also been promising.
Yesterday, it was declared that Xetra, a Germany digital stock, will be listing a Bitcoin ETP on its platform this month to allows investors in the traditional finance market have the chance of committing to Bitcoin.
Today trading market also opened the curtain with intriguing news that Bitcoin Open Interest surged by $500 million one month after the open interest reached $1 billion mark, data from Skew crypto tracking platform shows.
According to the data from Skew, the Bitcoin Open Interest has surpassed the $1.5 billion mark. Early last month, the Bitcoin Open Interest surpassed the $1 billion mark. Since then, it has been on a steady rise. In late February, the Bitcoin Open Interest also went close to $1 billion.
Bitcoin Mean Transaction Size in One Day Drops By 18%
Bitcoin mean transaction size saw a significant drop in the last 24 hours, Glassnode, a crypto derivative on-chain alerts platform monitoring crypto interest flow, has indicated.
Glassnode captioned that the mean transaction size of Bitcoin dropped by nothing less than 18% today, compared to its peak value yesterday.
The mean transaction size plummeted from 636.669 yesterday to 521.915 today. However, the result seems not surprising considering the volatility of Bitcoin mean transaction size, as revealed in the chart captioned by Glassnode.
Before rising up to around 600, the daily mean transaction size of the leading cryptocurrency was around 500 in June 3.
One of Germany’s Largest Stock Exchanges to List a Bitcoin ETP
A leading stock exchange in Germany, Xetra, is set to list a Bitcoin ETP in a move that will allow investors to buy Bitcoin without using crypto wallet or any blockchain device, a release has said.
This will open traditional financial investors in UK, Italy, Netherlands, Finland among other countries to Bitcoin the same way they invest in the traditional finance market.
When it finally goes live on the exchange this month, the Bitcoin ETP would be listed as “BTCetc Bitcoin Exchange Traded Crypto” (BTCE). However, the Bitcoin ETP is just backed by Bitcoin and not Bitcoin in itself, but its price will match with that of BTC.