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Record $584M Litecoin futures open interest signals institutional inflow

Published 02/09/2021, 02:40 PM
Updated 02/09/2021, 04:20 PM
Record $584M Litecoin futures open interest signals institutional inflow
BTC/USD
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LTC/USD
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Litecoin (LTC) might be 60% below its December 2017 all-time high at $420, but that hasn't stopped its futures contracts open interest from reaching a record $584 million. This makes LTC the seventh-largest cryptocurrency by market capitalization and it ranks third in derivatives, behind Bitcoin (BTC) and Ether (ETH).

Litecoin futures aggregate open interest. Source: Bybt.com

As shown above, LTC futures aggregate open interest increased by 285% over the past three months. One should keep in mind that such an event is not necessarily positive since futures contracts require both a buyer (long) and a seller (short). Nevertheless, this increasing interest allows even more substantial players to participate.

Grayscale investment funds holdings. Source: Grayscale
LTC futures aggregate daily liquidations. Source: Bybt.com
LTC spot exchanges volume, USD. Source: Coinalyze.net

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