Futures whales pick: Ether USD-margin accounts drop 6.63 points, Dogecoin positions rise 5.99

The share of Ether long accounts in USD-margined futures fell sharply, while Dogecoin USD-margined positions and Ether coin-margined positions posted clear gains.

On Oct. 16, Dogecoin’s long share by position in USD-margined futures stood at 75.81%, up 5.99 percentage points from the previous day. XRP rose 2.94 points to 66.63%, Ether gained 2.35 points to 61%, and Solana added 1.23 points to 68.04%. Bitcoin slipped 0.14 points to 59.02%.

In coin-margined futures, Ether’s long share by position increased 2.01 percentage points to 77.65%, while Bitcoin rose 1.74 points to 71.44%. XRP, Solana and Dogecoin declined by no more than 0.26 points.

By account, Ether’s USD-margined long share dropped 6.63 percentage points to 65.76%. Bitcoin fell 2.02 points to 62.75% and Solana lost 1.72 points to 72.85%. Dogecoin rose 1.22 points to 76.95%, while XRP gained 0.85 points to 76.58%.

Coin-margined account shares were broadly stable. Ether recorded the largest increase, rising 0.98 percentage points to 80.3%, while all other changes were within 0.39 points.

[Editor’s note] Long-position shares among leading cryptocurrency futures traders can offer a snapshot of market positioning. The figures should be interpreted cautiously because futures may also be used to hedge spot holdings.

This article is based on market data and does not constitute investment advice.