Crypto Express

07/11 01:09

POPCAT Derivatives are eyeing more gains

Notably, while whales have entered the rally, it appears they have done so to establish strategic positions.

According to CoinGlass, Popcat’s Open Interest (OI) soared 19.3% to reach $172.9 million, while the Derivatives Volume spiked 94.55% to $551.34. 

Notably, a surge in OI alongside volume confirms increased activity in the futures volume. At the same time, Popcat’s Long Short Ratio surged to surpass 1 across all major exchanges. 

The overall Ratio spiked to 1.1313, signaling strong demand for long positions. Typically, a higher demand for longs implies that investors are actively betting on prices to rise. 

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