Papertrade Sees Bitcoin and Ether Open Interest Drop After PAPER Decision

Open interest in Papertrade’s Bitcoin (BTC) and Ether (ETH) markets fell sharply after the platform kept PAPER nontransferable, while two venues halted or restricted derivatives trading tied to the token. Bitcoin open interest on the HyperEVM-based perpetuals platform declined from about $390 million to $230 million. Ether open interest dropped from about $150 million to $66.3 million. Open interest measures the value of contracts still open; it does not measure cash withdrawn from the platform. Paragon halted its PAPER prelaunch perpetual market and settled open positions at $0.026296.

Source: TokenPost