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The regulated Chicago Mercantile Exchange (CME) has toppled Binance to the top spot on the list of biggest bitcoin (BTC) futures exchanges. CME is replacing Binance for the first time in two years. CME ranked first among futures and perpetual futures exchanges with an open interest (OI) of roughly $4.07 billion while OI on Binance stood at $3.8 billion. CME’s rise to the top happened gradually this year and is a significant development as it highlights the growing demand from institutional market participants to trade the largest and oldest crypto asset.
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