Chainlink Open Interest Sitting At Record Levels, What This Means For Price

Chainlink has seen its open interest spike significantly in the month of February, so much so that it has reached new all-time highs. This trend has not waned despite the decline in the price of the cryptocurrency, which could paint a rather bullish picture for the LINK price going forward. Chainlink Open Interest Crosses $450 Million The Chainlink open interest ended the month of January on a high note and carried this trend into the month of February. A major jump was seen between January 31 and February 3 when…

Solana, Chainlink Among Coins With Overheating Open Interest: Data

Data shows Solana and Chainlink are among the top cryptocurrencies that have observed growth in Open Interest to relatively high levels. Solana & Chainlink Have Their Open Interest At Notable Values Currently According to data from the on-chain analytics firm Santiment, there has been a dramatic increase in interest in the derivative market for cryptocurrencies recently. The indicator of relevance here is the “Open Interest,” which keeps track of the total amount of derivative contracts for any given asset that is currently open on all centralized exchanges. When the value…

Bitcoin Open Interest Reaches $69,000 ATH Levels, What This Means For Price

The Bitcoin open interest has been on the rise over the last few weeks as the price has climbed continuously. This sustained rise in the open interest is a reflection of the heightened interest in the cryptocurrency since the United States Securities and Exchange Commission (SEC) approved Spot Bitcoin ETFs for trading. The BTC open interest has now climbed to historical levels, reaching 2021 all-time high levels. Bitcoin Open Interest At 2021 Levels According to data from Coinglass, the Bitcoin open interest has risen to more than $24 billion. This…

Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000

Bitcoin’s open interest has surged past $11 billion for the first time in over two years. This uptick comes when the world’s most valuable coin surges, recently easing past $51,000, the highest level since December 2021.  Bitcoin open interest | Source: Kaiko on X Surging Open Interest And Order Book Imbalance According to Kaiko, a leading crypto analytics provider, this upswing in open interest comes at a critical time for the coin. When prices zoomed past $48,000 on February 11, there was an order book imbalance. Then, Kaiko observed there…

Open Interest Hits $1.75 Billion, Price Up 8% Today

Solana (SOL), a leading cryptocurrency known for its fast transaction speed, is currently experiencing a surge in investor confidence. According to recent market data, the open interest in Solana has increased by over 108%, reaching a new high of $1.75 billion. This surge indicates a significant rise in investor activity and market participation across major exchanges such as Binance, Bybit, and OKX. In addition, Solana’s price has risen by over 8% in a single day, reaching $114, accompanied by an 88% increase in trading volume, which has reached nearly $3…

Bitcoin Open Interest hits $22B -Will BTC Price Follow?

Bitcoin (BTC) price crossed $48,000 on Feb. 9, but weekend activities from derivatives traders suggest that more action will follow in the coming days.  The total capital stock in the BTC futures markets has crossed the recent peak recorded during the spot ETF approval euphoria on Jan. 11, sparking optimism that BTC price could soon follow suit.   Bitcoin open interest approaches $22 billion first time since April 2021 The spot ETF approval on Jan. 11 has increased public interest in BTC as a legitimate asset class, leading to a flurry…

Abra to Open Withdrawals After Settling with Texas Regulators

The agreement, if honored, will dismiss a rash of enforcement actions over Abra’s offering of its Earn and Boost investment products at a time when it was nearly – if not completely – insolvent, according to the TSC. The TSC alleged the products were securities, meaning the registration of both products falls under the agency’s purview. Source

Binance and Gulf Innova’s Thailand Crypto Exchange Open for Trading

“With the full operation of Binance TH by our Thai joint venture to the general public in Thailand, we will uphold our unwavering commitment to security, transparency, and service quality. Blockchain technology and digital assets carry the power to bring about financial inclusion,” Richard Teng, CEO of Binance, added in a release. “This is a strategic step forward, setting the stage for Thailand’s impending role as a key player in the global digital finance landscape.” Source

Avalanche Open Interest Just Smashed A New ATH, Can AVAX Reclaim $100?

Avalanche has seen its native token AVAX rise rapidly over the last 30 days to make its way into the top 10 tokens by market cap. This rally was not exactly out of the blue as activity had begun to pick up once more on the Avalanche network. During this time, the open interest has risen rapidly as well, eventually touching a new all-time high. Avalanche Open Interest Rises To $413 Million On Tuesday, the Avalanche open interest rose to the highest level since its launch following AVAX’s surge to…