News about Monero

Leveraged bets are building again in Monero (XMR) futures, with open interest topping $300 million, close to January's peak of about $320 million according to SoSoValue. Open interest in coin terms reached 515.73K XMR, a five-week high up from 400K a week earlier, as the spot price recently rose above $600. The article notes a similar buildup in January preceded a 66 percent plunge, when XMR fell from about $790 to below $300 as long positions were forcibly closed. Analyst Doctor Profit warned of a possible big liquidation event, but the article says whether history repeats remains to be seen. With a market cap of $10.9 billion, Monero is the second-largest privacy coin in the world.