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Crypto

Altcoin Open Interest Surpasses Bitcoin for First Time Since 2024

Guavy AI Editorial Team
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BTC ZEC
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The altcoin market has surpassed Bitcoin in terms of aggregate open interest for the first time since December 2024, according to Coinalyze data.

This shift reflects increased leveraged trading, with Zcash and other altcoins experiencing a rally. The combined open interest of altcoin perpetual futures exceeded that of Bitcoin's on September 6.

Zcash was a notable example of rising altcoin leverage, with its open interest reaching approximately $2.4 billion as the token rose above $1,000 in early September. This surge in prices led to short liquidations exceeding $34 million during the breakout.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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