行進に 24, the price of Polkadot’s DOT token corrected by 23% in a brief six-hour period, その結果 $174 million in liquidations across the futures market. This swift downside move also cut the aggregate open interest by 26%.

Now that DOT’s open interest is climbing to a new record high at $1 十億, investors may be worried that another price crash is on the way.

DOT/USDT on Binance. ソース: TradingView

Although the event severely hurt leveraged longs at the time, the token managed to rally 46% に 10 日々, 史上最高に達する $46. The explosive gain caused investors to recoup their confidence quickly, and the futures open interest has now reached a record high of $1 十億.

最近, KwikSwap, 分散型取引所, expressed interest in using Polkadot’s layer-two solution to lower costs and increase transaction throughput. These might be a few of the fundamental reasons behind the increase in price and futures markets open interest.

The price drop on March 24 was not specific to DOT, as the altcoin market capitalization plunged 10% during that period. Cointelegraph reported that FUD — fear, uncertainty and doubt — events pressured cryptocurrency markets, including the large futures and options expiry on March 26.

それにもかかわらず, 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. 比較として, XRP held $780 建玉の百万, while Litecoin (LTC) 登録済み $662 百万.

The impact of liquidations depends on how liquid markets are at the time. しかしながら, DOT’s aggregate bids seldom surpass $15 百万. したがって、, インクルード $844 million open interest represented over 50 times that figure.

上 10 cryptocurrencies aggregate bids and asks, 4月 5. ソース: Cryptowatch

Cryptowatch provides a tool to aggregate exchanges bids and asks, although there is no history available for such data. The website considers all visible orders within a 1% difference from the last trade.

Using the figures from April 5, one can see howilliquidDOT’s books were when compared with XRP and Litecoin. According to Staking Rewards data, 65% of DOT in circulation is locked up in staking mechanisms. Regardless of the reason behind the smaller bids, it creates a potential risk during relevant liquidations.

DOT futures aggregate open interest. ソース: Bybt

過去2か月間, DOT’s futures open interest doubled, becoming the second-largest derivatives market behind Bitcoin (BTC) とエーテル (ETH). したがって、, investors have reasons to worry about the liquidation impact from an unexpected price drop.

As DOT’s futures markets develop over time, it should bring further liquidity to the spot exchanges. Arbitrage opportunities will arise, and investors will notice that stacking bids 5% または 10% below the market is profitable. したがって、, it might be a matter of time until the mismatch shrinks between futures open interest and aggregate bids 1% below the price.

Multiple indicators make a bullish case for DOT

VORTECS™ スコア, Cointelegraph専用, データポイントの組み合わせから導き出された過去と現在の市況のアルゴリズム比較です。, 市場センチメントを含む, 取引高, 最近の価格変動とTwitterの活動.

VORTECS™ スコアvs. ドット価格 (白い). ソース: Cointelegraph Markets Pro

In addition to surging open interest on large derivatives exchanges, VORTECS™ Score rose to 75 4月に 1. Over the following two days, DOT price managed to rally another 22% に $46.60.

DOT’sflippeningof XRP and Litecoin’s futures open interest signals that investors are far more interested in Polkadot’s scaling and interoperability potential as opposed to its competitorsmore narrow-focused protocols.

ここに記載されている見解や意見は、 author 必ずしもコインテレグラフの見解を反映しているわけではありません. すべての投資と取引の動きにはリスクが伴います. 決定を下すときは、独自の調査を行う必要があります.

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ソース: コインテレグラフ