Interest in Bitcoin has waned since the golden days of 2021, with prices and volume slumping, and online searches nosediving. But one corner of the derivatives market has been a standout.
Bitcoin perpetual contracts -- which, unlike traditional calendar futures, don’t expire -- have long been a crypto retail-investor favorite, with a bigger number of professional and institutional traders also shifting toward them and away from traditional calendar futures. Such contracts have grown to account for around 66% of open interest and roughly 93% of trading volume, according to data from Glassnode.
