news

polkadot

1 X polkadot polkadot =

Friday

23 April 2021

Polkadot futures open interest hits $1B as DOT price reaches a new ATH

Polkadot futures open interest hits $1B as DOT price reaches a new ATH


smart summary beta

Now that DOT's open interest is climbing to a new record high at $1 billion, investors may be worried that another price crash is on the way.

These might be a few of the fundamental reasons behind the increase in price and futures markets open interest.

Cointelegraph reported that FUD — fear, uncertainty and doubt — events pressured cryptocurrency markets, including the large futures and options expiry on March 26.

Nevertheless, DOT's 23% correction was much larger than most altcoins, and the reason behind it might lay in its $844-million futures open interest on March 24.

Over the past two months, DOT's futures open interest doubled, becoming the second-largest derivatives market behind Bitcoin (BTC) and Ether (ETH).

Thus, it might be a matter of time until the mismatch shrinks between futures open interest and aggregate bids 1% below the price.

Goto Full Article

polkadot polkadot price

$32.19

24h

Live Average

polkadot

News Article Sentiment

negative

Score (-0.2)

Article Metadata

author

site

cointelegraph.com

categories

Market data feeds provided by cryptocompare.com
bitsmart 2021