The $ON contract has seen open interest rise while price fell (24h: OI +19.08% / price -40.94%). Here are a few things to watch next:
1. Whether open interest continues to rise
2. Whether the funding rate becomes clearly skewed to one side
3. Whether short covering occurs during a rebound
Total positions on the platform are worth $7.52 million. I’ll update once one of these questions is answered.
1. Whether open interest continues to rise
2. Whether the funding rate becomes clearly skewed to one side
3. Whether short covering occurs during a rebound
Total positions on the platform are worth $7.52 million. I’ll update once one of these questions is answered.