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Crypto Express

06/17 02:05

Futures traders drive JTO’s movement



Analysis showed that JTO’s rally has predominantly been driven by traders in the derivatives market, as they continue opening long positions.

The Open Interest Weighted Funding Rate served as an indicator of where the asset is likely to trade next.
At press time, the Open Interest Weighted Funding Rate held a negative reading of -0.0054% while trending upward.

This suggests that increased buying activity is currently pushing the metric closer to positive territory.

If JTO crosses into the positive zone, it would indicate the start of another wave of buying activity, potentially driving the asset higher.

Analysis also showed that the total value of contracts open on JTO sat at $77.98 million—a 66.93% increase—driven largely by long traders.
A continued rise would imply sustained investor interest in purchasing the asset, which could lead to a more significant rally on the chart.

At the time of writing, JTO’s buying volume supported its rally potential, with the Taker Buy/Sell Ratio reading at 1.03.

When the Taker Buy/Sell Ratio exceeds 1.0, it indicates that buying activity outweighs selling in the market.60DEB81D-8139-4164-86FC-D940E6762269-768x222.png

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