Dogecoin, which depreciated about 4 percent during the week $0.229428 (Doge), however, continues to attract great interest from investors. In the last 24 hours, it has been observed that a transaction of approximately $ 3.42 billion took place in the derivative market with a volume of close to 15 billion dogs. The total value of futures contracts that are active by investors shows that the interest in the crypto asset continues.
Despite the price decrease investor workplace
In spite of this depreciation in the crypto currency market, the increase in open positions indicates that the expectation of rise in the market continues. The open position refers to the total value of investors in the futures contracts of Dogecoin. It is considered that this size points to a serious investor interest for Dogecoin.
According to Coings data, the Gate Platform ranked first with an open position of 3.29 billion DEGE. This amount corresponds to approximately $ 750.2 million and constitutes 21.92 percent of the total open position.
Platforms and transaction volumes
Among the platforms where investors are most active, Gate, as well as global players such as Binance, said. There is also an important open position volume on Binance. Thus, it is stated that the interest in Dogecoin continues through various platforms.
The height of the transaction volume for Dogecoin may indicate the confidence of investors’ confidence in crypto money, regardless of the price movements. Experts say that this intensity includes both purchase and sale positions.
According to Coings data, the total open position on the Gate platform was 3.29 billion.
Some experts emphasize that the size of open positions reflects the appetite of investors on Dogecoin, although market conditions are unpredictable. However, sector officials propose cautious action.
Expert opinions and developments in the market
It is stated that the current price decrease may bring new risks to the market in the short term. Investors are recommended to be careful despite the high volume in futures.
Experts, “this increase in open positions, the market still points to the presence of a strong expectation,” he shared the information.
In general, despite the price decrease in the Dogecoin market, the size of the derivative market shows that the interest in the sector continues to interest in the sector.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
