The takeaway first: INJ open interest is rising, but longs have been the main liquidation targets lately—traders chasing longs have taken the hit first.
INJ’s total futures open interest across all platforms is $151 million, up 5.71% in 24 hours. Open interest on Binance rose 5.22%, while OKX saw a sharper 14.43% increase. But total open interest hasn’t surged in tandem, suggesting that position-building is diverging across platforms.
Over the past 4 hours, $13,100 was liquidated, including $10,200 in long positions, or 78%. Over the past 24 hours, $110,900 in long positions were liquidated, accounting for 72%. Open interest keeps climbing, while liquidations have consistently skewed toward longs, signaling that risk among traders chasing the rally is building.
This is not a one-sided signal right now: some shorts have also been liquidated, but the amount is clearly much smaller than for longs. To see whether INJ can keep gaining strength, first watch whether open interest continues to rise and whether long liquidations expand.
$INJ $BTC
As open interest continues to rise, will you chase longs or wait for liquidations to cool down?
View in real time: https://www.coinboss.com/currencies/INJ