Velo Data data shows that since November 1, open interest in futures contracts related to SHIB has increased by 23% to $61.74 million, which is the highest increase among popular cryptocurrencies.
Open interest in the DOGE contract increased 14.6% to $328 million. Open interest in the MATIC, ETH, ETC and LTC contracts increased by 6% to 7%, while open interest in the BTC contract remained unchanged during the same period.
XRP contract open interest increased by only 0.76% in 7 days. Data shows that XRP token price increases are primarily driven by the spot market. (CoinDesk)