Open interest for Bitcoin futures on centralized exchanges has hit a new high for the year, reaching levels not seen since November 2021 and highlighting increased trading activity around the largest cryptocurrency.

According to CoinGlass, the aggregated open interest for Bitcoin futures reached $22.9 billion on Monday, the highest since the final quarter of of 2021, closely approaching the peak of about $24 billion made then.

Since the start of 2024, open interest in Bitcoin futures has increased by more than 30%. This increase aligns with Bitcoin’s price rally to $52,300 — a 23% rise year-to-date, also revisiting a level last seen in December 2021.

Meanwhile, the total open interest for Ether futures stands at $10.5 billion, marking a 50% increase since the beginning of 2024. Ether’s …