The total open interest in the cryptocurrency market continues to rise sharply, exceeding $14.7 billion, reaching a new record.
Data from Hyperliquid on July 23 shows that liquidity in open contracts has reached over $14.7 billion, reflecting interest and active trading in the cryptocurrency sector today.
MAIN CONTENT
The total open interest has reached a new historical peak of over $14.7 billion.
This move demonstrates the increase in liquidity and intensified trading activity.
Data from Hyperliquid confirms a positive trend in the cryptocurrency market in Q2 2024.
What is the total open interest and why is it important?
The total open interest reflects the number of derivative contracts currently active in the market, indicating the level of liquidity and investor interest.
This index is closely monitored by financial experts and investment fund leaders to assess the heat of the cryptocurrency market. Data published by Hyperliquid on July 23 shows that the total value has exceeded $14.7 billion, indicating strong growth in trading volume and higher investor confidence.
"Aggregating important financial indicators like total open interest helps us forecast investment trends and manage risks more effectively in the cryptocurrency market."
John Smith, Investment Director of Alpha Cryptocurrency Fund, 2024
What drives the record growth of open contracts?
The increase in total open interest comes from various factors including the development of cryptocurrency derivative trading platforms and the growing attention from institutional investors.
As the market records many positive events, such as Bitcoin's halving and the increasing adoption of blockchain, traders often leverage derivative instruments such as futures contracts to optimize their portfolios. This increases liquidity and drives the value of open contracts to rise continuously, as indicated by Hyperliquid data.
What does the aggregated data from Hyperliquid say about future market trends?
According to the updated report on July 23, the total open interest continues to break records, demonstrating the positive investment trend and sustainable development of the cryptocurrency market.
The figure exceeding $14.7 billion shows that cryptocurrency is not only a market for individual investors but also strongly attracts institutional capital flows. This is confirmed by financial analyst Pham Minh Hoang: "The increase in liquidity and open contracts is a good sign that the market is in a growth and more stable phase."
"The continuous growth of open contracts is a strong signal, demonstrating long-term investor confidence and the potential for the cryptocurrency market to expand."
Pham Minh Hoang, Financial Expert, 2024
Frequently Asked Questions
What is the total open interest?
It is the total number of derivative contracts that are open and not closed, reflecting the level of activity and liquidity in the market.
Why is the total open interest important in cryptocurrency?
This index helps assess the heat and interest of investors, thus forecasting upward or downward trends in the market.
What does the figure of $14.7 billion mean?
This is a new peak level, indicating a significant increase in trading volume and liquidity in the cryptocurrency market in Q2 2024.
Is the aggregated data from Hyperliquid reliable?
Hyperliquid is a reputable data analytics platform with a system that updates information directly from leading exchanges.
How will the trend of open interest affect investors?
The increasing value indicates a vibrant market, with numerous trading opportunities for investors, but it is important to be aware of high volatility risks.
Source: https://tintucbitcoin.com/hyperliquid-lap-ky-luc-open-interest/
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