Record $584M Litecoin futures open interest signals institutional inflow
Cointelegraph
Published Feb 09, 2021 02:40PM ET
Updated Feb 09, 2021 04:20PM ET
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).
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.
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Written By: Cointelegraph
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