Binance News: Surge in BTC Open Interest on Binance Futures Signals Heightened Volatility

In a significant development in the cryptocurrency market, Binance Futures has witnessed a substantial increase in Bitcoin (BTC) open interest, indicating heightened volatility. Here’s a closer look at the details and its implications.

7K BTC Open Interest Added On Binance, Volatility Hits 6-Month High

About 7,000 Bitcoin (BTC) open interest was added to Binance futures, signaling increased volatility. Analysis of the 5-minute BTC/USDT chart from Binance Futures showed a 7K BTC increase in OI, raising the value to 308.79K BTC at $19.6 Billion. Simultaneously, the Bitcoin price grew to $87,441.20 from $83,000, representing a 5.4% increase. The heightened trading volume coincided with a positive Funding Rate of 0.003081%, indicating a bullish investor attitude. The price rise closely matched the ΟΙ increase, suggesting new position openings drove market buying activity.

Trump’s World Liberty Financial Joins Stablecoin Goldrush

World Liberty Financial, a decentralized finance protocol backed by President Donald Trump, intends to launch its own U.S. dollar-backed stablecoin, World Liberty Financial USD (USD1), on both Ethereum and Binance’s BNB Chain. With Trump back in office and a bill to legalize stablecoins being considered by congressional Republicans, the team feels the time is right for the president to enter the stablecoin sector.