Crypto -traders accumulate in hi -fi derivatives while the removal of the token from Binance is approaching, which causes one of the steepest peaks in activity on the crypto -derivative market this week.
Data from Coinglass showed that contracts linked to HiFi on Saturday rose to $ 6.17 billion in 24-hour trade volume, which marked an increase of more than six-fold marking compared to the previous day. They pushed HiFi derivatives in the top 10 most traded assets, which overshadows established players such as Cardano and Avalanche.
HiFi traders push the derivatives volume to $ 6.17 billion while Binance scraping is approaching
At the same time, HiFi open interest – the total value of restless contracts – more than doubled to $ 113 million. Market analysts often treat such jumps as a sign that traders position for dramatic price fluctuations.
A breakdown of the activities showed that Binance dominated the space and registered $ 2.7 billion in transactions, while bybit and bitget followed by $ 1.09 billion and $ 756 million respectively.
In particular, the Richard Teng-conducted fair also led open interest with $ 33 million in active contracts, which exceeds Bybit’s $ 27 million.
Interesting is that the hurry to derivatives is spilled in spot prices.
HiFi won more than 200% in one day and climb to $ 0.47 after discount $ 0.81 earlier in the week. That rally expanded a seven -day run that left the token almost 650% higher than early September.
The dramatic movement illustrates how speculative positioning can intensify volatility when tokens have to deal with structural shifts, such as exchange removals. Although the decision initially made doubt about the prospects of HiFi, derivatives traders seem to handle the exit as a short -term chance of a terminal blow.
Despite the current fate of the project, the HiFi team acknowledged the frustration of the community, but promised to concentrate on core activities. The team said it would maintain the most important infrastructure, support the obligations of honor and users “with professionalism and courtesy.”
HiFi itself acts as a decentralized financing protocol on Ethereum that makes borrowing with a fixed interest against both digital and real-world collateral.
From August, it assured more than $ 20 million to the total value, while his DAO Treasury checked just over $ 5.1 million in liquidity.
The post -hifi derivatives reached $ 6 billion when the traders first appeared on Beincrypto’s market for Binance Schrapping.
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