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RAVE breaks through $27, with over $161.5k in liquidations! Open interest drops sharply by 83%.
RAVE recently surged again, breaking the $27 mark and successfully igniting market sentiment.
In the past 24 hours, the total liquidation amount across the network reached $20.64 million, second only to Bitcoin and Ethereum.
Notably, short positions accounted for the majority of liquidations, reaching $18.34 million, with the largest single liquidation at $161.5k.
However, despite RAVE's price soaring, the total open interest across contracts on the network has shown a sharp decline.
As of the time of writing, RAVE's open interest has fallen to 25.4885 million tokens (coin-margined), a decrease of an astonishing 83% from the peak of 150 million tokens on April 11.