Data shows the Toncoin (TON) Open Interest has registered a spike in the past day. Here’s what could happen next, according to historical trends.
Toncoin Open Interest Has Hit Its Highest Since February
In a new post on X, the on-chain analytics firm Glassnode has talked about the latest trend in the Open Interest for Toncoin. The “Open Interest” here refers to a metric that keeps track of the total amount of perpetual futures positions related to TON (in USD) that are currently open on all derivatives platforms.
When the value of this metric rises, it means the investors are opening up more positions related to the asset on the market. Generally, the total leverage in the sector goes up when new positions appear, so this kind of trend can lead to higher volatility for the cryptocurrency’s price.
On the other hand, the indicator going down suggests that investors are closing their own positions voluntarily or being forcibly liquidated by their exchange. Either way,
We współpracy z: https://www.newsbtc.com/toncoin-ton/toncoin-open-interest-spikes-33-repeat-pullback/
