Price tells you where $ZEC went. Open interest tells you who drove it.
Open interest (OI) is the number of perp contracts still open. It rises when new positions open and falls when they close. Read it next to price:
- Price up, OI up: new positions, buyers pushing
- Price up, OI down: shorts closing, a squeeze
- Price down, OI down: longs closing, a flush
- Price down, OI up: new shorts pressing
ZEC, 4h data (UTC):
- Oct 20 04:00 to Oct 21 16:00: price 1,133.9 to 1,357.0 (+19.7%), OI 454.5K to 482.2K ZEC (+6.1%)
- Since then: price 1,325.9 (-2.3%), OI 466.3K (-3.3%)
Yesterday I read negative funding as shorts hanging on. The OI says the run was mostly new positions, not a squeeze. The pullback since is people closing, with OI falling alongside price.
Funding agrees. It changed sign four times since Tuesday and was +0.0028% at the last settlement. Nobody is paying hard.
The NU7 date news is what people talk about. The OI says this move was built with fresh positions, and those can leave as fast as they came.
After a big candle, which of these four do you check first?
#ZcashDevelopersConfirmNovemberDateForNU7Upgrade
Open interest (OI) is the number of perp contracts still open. It rises when new positions open and falls when they close. Read it next to price:
- Price up, OI up: new positions, buyers pushing
- Price up, OI down: shorts closing, a squeeze
- Price down, OI down: longs closing, a flush
- Price down, OI up: new shorts pressing
ZEC, 4h data (UTC):
- Oct 20 04:00 to Oct 21 16:00: price 1,133.9 to 1,357.0 (+19.7%), OI 454.5K to 482.2K ZEC (+6.1%)
- Since then: price 1,325.9 (-2.3%), OI 466.3K (-3.3%)
Yesterday I read negative funding as shorts hanging on. The OI says the run was mostly new positions, not a squeeze. The pullback since is people closing, with OI falling alongside price.
Funding agrees. It changed sign four times since Tuesday and was +0.0028% at the last settlement. Nobody is paying hard.
The NU7 date news is what people talk about. The OI says this move was built with fresh positions, and those can leave as fast as they came.
After a big candle, which of these four do you check first?
#ZcashDevelopersConfirmNovemberDateForNU7Upgrade