Monero Wallet Books $3.44 Million Before XMR's 12% Rise

A wallet exited a 36,000-XMR long position on Oct. 20 for a $3.441 million gain, two days before Monero (XMR) rose 12% to a three-month high.

The later advance left an estimated $4.77 million in potential profit unrealized on the closed position. The wallet had held the long since Aug. 9.

Monero futures open interest, measured in XMR, increased about 22% in the five days through Oct. 20. A separate dollar valuation put open interest at $198 million at the Oct. 20 close.

The five-day increase in XMR-denominated futures open interest accompanied a 9% price gain, though the rise in open interest alone does not show a net directional view. Open interest measures futures contracts that remain active. Each contract has a long side and a short side, so a higher total shows more outstanding exposure but does not establish a net directional view.