Bitcoin Outstandings Hit Records at $19.2 Billion

IconCryptoNewsTerminal Staff26 Jul, 2024

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Bitcoin Outstandings Hit Records at $19.2 Billion

The outstanding contract size of all cryptocurrency exchanges has recorded $19.2 billion. This is the highest value ever in terms of dollar value. According to CoinMarketCap, Bitcoin (BTC) is currently trading at $67,289.44, up 4.74% in the last 24 hours. This surge has pushed BTC’s market cap to $1.28 trillion. CryptoQuant contributor and cryptocurrency market analyst Maartunn highlighted the significance of this milestone, noting that, “Outstanding contract size is a very important volume indicator on both spot and derivate markets. Analysts believe that the increase in outstanding contract size is a sign of growing institutional interest in the cryptocurrency market. This interest likely comes from the increasing number of cryptocurrency-related investment products and services being offered by traditional financial institutions.

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