Altcoin Open Interest Hits Record High of $47 Billion, Signaling Potential Volatility in the Crypto Market

A significant milestone has been reached within the cryptocurrency market. Altcoin open interest, the total value of outstanding derivative contracts like futures and options, has surged to a record-breaking $47 billion according to Glassnode on X. This unprecedented increase, which suggests substantial speculation in altcoins, could signal both opportunities and potential for volatility.