November 7, 2023
According to Velo Data, the dollar value locked in the number of active perpetual futures and standard futures contracts tied to SHIB has increased by 23% to $61.74 million since Nov. 1. This represents the highest percentage growth among top cryptocurrencies.
The open interest for SHIB has seen a significant increase, reaching $61.74 million. This indicates a growing interest and investment in SHIB, as more traders are participating in perpetual futures and standard futures contracts.
In addition to SHIB, the open interest in DOGE has also experienced growth. It has increased by 14.6% to $328 million. This suggests that DOGE continues to attract attention and investment from traders.
The increase in open interest for both SHIB and DOGE highlights the growing popularity and potential of these cryptocurrencies. Investors and traders are showing a strong interest in participating in futures contracts tied to these assets. As the open interest continues to rise, it is important for individuals to stay informed and make informed decisions when it comes to investing in these cryptocurrencies.
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