Monero Crosses Critical Level: The Same Pattern Previously Led to a 66% Drop! Here Are the Details

Leveraged positions in the futures market of the privacy-focused altcoin Monero have once again approached dangerous levels. According to market data, the total open interest in XMR futures has exceeded $300 million, nearing the record high of approximately $320 million seen in January. Open interest represents the total amount of futures contracts that investors have opened but not yet closed. An increase in this value indicates that more leveraged capital is entering the market. The amount of open interest in Monero, in token terms, has also reached a five-week high of approximately 515,730 XMR.

Source: Bitcoin Sistemi