Mr Arham

08/10 15:21

Open Interest jump reignites trader appetite ENA

Open Interest jump reignites trader appetite

ENA’s gain in the past day followed a massive liquidity inflow into the perpetual market, as Open Interest (OI) surged according to CoinGlass. 

Open Interest tracks the dollar value of unsettled perpetual contracts in the market. At press time, the altcoin recorded a $244 million increase after an 18% jump in OI, pushing it to $1.3 billion.

That’s not all—analysis of the OI Weighted Funding Rate shows the market leaning bullish, as it returned to positive territory.

Each time there’s a positive reading—in this case, 0.0082%—along with a continued rise, it suggests more bull contracts from buyers than from sellers.

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