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Polkadot futures open interest hits $1B as DOT price reaches a new ATH

Published 04/06/2021, 05:15 PM
Updated 04/06/2021, 07:00 PM
Polkadot futures open interest hits $1B as DOT price reaches a new ATH

On March 24, the price of Polkadot's DOT token corrected by 23% in a brief six-hour period, resulting in $174 million in liquidations across the futures market. This swift downside move also cut the aggregate open interest by 26%.

Now that DOT's open interest is climbing to a new record high at $1 billion, investors may be worried that another price crash is on the way.

DOT/USDT on Binance. Source: TradingView
Top 10 cryptocurrencies aggregate bids and asks, April 5. Source: Cryptowatch
DOT futures aggregate open interest. Source: Bybt
VORTECS™ score vs. DOT price (white). Source: Cointelegraph Markets Pro

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