A technical markets indicator is suggesting huge trading interest building on $DOGE derivative markets following Twitter’s decision to replace its popular blue bird logo with a picture of a Shiba Inu dog this week. By shauryamalwa
Jenny will discuss developing crypto-linked investment products in a bear market, the mood among her clients and her lon...Dogecoin’s derivatives market have become busier than ever as prices rose sharply following Twitter’s decision to replace its popular blue bird logo with a picture of a Shiba Inu dog earlier this week.
Meanwhile, coin-margined contracts on dogecoin – which settled in other assets, such as bitcoin, instead of stablecoins – saw over $55 million in total open interest as of Wednesday. Data shows funding rates, or a fee paid by leverage traders to remain in a futures position, is an average of +0.01% on cryptocurrency exchange Binance, which has the highest open interest among counterparts, and a similar fee on Bybit. Rates on OKX are fluctuating between -0.04% and +0.02%. Positive rates imply leverage is skewed on the bullish side.
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