Gate.io's Futures Open Interest Surpasses $12.47 Billion, Entering Top 3

Gate.io's recent 24-hour futures open interest surpassed $12.47 billion (approximately KRW 17.3 trillion), placing it in the top three among centralized exchanges, according to data from DefiLlama cited by Masbit on October 20. Open interest refers to the total value of unsettled contracts in the futures market. It increases as new contracts are signed and decreases when positions are closed. Unlike trading volume, which measures the amount traded over a period, open interest reflects the scale of maintained positions. DefiLlama's exchange dashboard separately tracks spot trading volume, USD-based perpetual futures volume, open interest, and order book depth. Gate.io's derivatives market size should be assessed by considering multiple metrics rather than relying solely on one indicator.