Monero Futures Open Interest Rises 22% in XMR Over Five Days

Monero (XMR) futures open interest measured in XMR rose about 22% over the five days through Oct. 20, increasing outstanding exposure as the coin’s price gained about 9%.

XMR traded near $613 at 4:14 p.m. ET (20:14 UTC) on Oct. 21. It ranged from $570.44 to $621.84 over the preceding 24 hours, crossing $600 in both directions. The wide range followed an earlier retreat to $576 after a $627 high.

Dollar-denominated open interest stood at $198 million at the Oct. 20 daily close, compared with $208.8 million on Sept. 5. The five-day increase measures outstanding futures exposure in XMR; the dollar figures value open interest at two separate daily closes.

Open interest counts each outstanding futures contract once. Every contract has a long and a short side, so the increase shows more exposure without establishing which direction traders expect XMR to move.