Analysis: Open interest in XRP and DOGE futures has climbed over the past week, which may signal increased speculative risk
According to CoinDesk, open interest (OI) in the XRP and Dogecoin (DOGE) futures markets has increased significantly over the past week, indicating a rise in market speculation, according to CoinDesk.
According to on-chain analytics firm Glassnode, open interest in DOGE futures increased by 63.9% to $1.62 billion from $989 million; XRP futures open interest increased by 41.6%.
The analysis points out that the divergence between futures positions and price movements may increase the risk of sharp market volatility and forced liquidation, and investors need to be wary of potential market corrections.
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