According to the ‘Weekly Update’ by Arcane Research, BitMEX has been struggling to hold its position in the futures market. This is after the long squeeze and liquidation loop that took place on March 12th. 

Arcane Research says that BitMEX held 34.21% of the total open interest, in the market throughout January. Last week, the BitMEX shares of the total open interest shrunk to 27.04%. 

This means that now OKEx is becoming the largest futures platform in terms of open interest (measured weekly). 

Is this short-term abnormality due to a strong market reaction following the events of 12th of March? Or if this indicates a long term shift in the futures market?

This and much more in this week’s ‘Weekly Update’. Read the full report here!

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