TechFlow reports that on February 29, Bitcoin futures market open interest surged significantly, accompanied by a sharp rise in trading volume. At the same time, Ethereum futures also saw growth in open interest and a substantial increase in trading volume. Both assets featured long positions dominating liquidations.
For BTC contracts, the total open interest reached $27.09 billion (+5.35%), with a 24-hour trading volume of $190.29 billion (+167.56%). The 24-hour liquidation volume was $94.01 million for longs and $210 million for shorts, with a long/short ratio of 51.45%/48.55%. The funding rate stood at 0.0794%.
For ETH contracts, the total open interest reached $11.66 billion (+3.95%), with a 24-hour trading volume of $71.23 billion (+152.86%). The 24-hour liquidation volume was $47.69 million for longs and $78.21 million for shorts, with a long/short ratio of 50.86%/49.14%. The funding rate was 0.0747%.
The top three tokens with the highest percentage growth in contract open interest were WAXP: $16.36M (+111.13%), BONG: $9.39M (+92.28%), and RATS: $2.35M (+83.36%).
