Let's look at the data: Over the past 24 hours, $XAN saw open interest (in coins) rise by 26.5%, while the price fell by 14.91%. Open contract value: $4.21 million. Latest price: 0.01051.
Open interest rose by more than 20% as the price fell, suggesting significant new short positions. Is this an opportunity or a trap?
Open interest rose by more than 20% as the price fell, suggesting significant new short positions. Is this an opportunity or a trap?