An asset’s futures open interest is the total number of outstanding futures contracts or positions that have not been closed or settled. When it falls, it often signals a drop in market activity or changing sentiment among traders.
The fall in PEPE’s open interest since the beginning of the month is due to the general market’s decline. This has, in turn, affected PEPE’s price trajectory. In fact,data revealed that the global cryptocurrency market’s capitalization fell by 4% in the last seven days alone. Over this period, the values of leading assets such asThe gradual drop in the memecoin’s hype has decimated the daily decline for PEPE since April began.
As bearish momentum climbs, the profitability of daily PEPE transactions has also fallen. AMBCrypto, using a seven-day moving average, observed the ratio of PEPE’s daily transaction volume in profit to loss and found that this has dropped consistently since 31 March.With a ratio of 0.975 at press time, this metric suggested that for every PEPE transaction that ended in a loss, only 0.975 transactions returned a profit.