TechFlow reports, according to Kaiko data, meme tokens such as BONK, PEPE, and WIF have high leverage ratios. The ratio of open interest to market capitalization serves as an indicator of leverage. A higher ratio indicates that the derivative market positioning of an asset is relatively large compared to its market cap, meaning price discovery for these tokens is more concentrated in the perpetual futures market. This year, meme tokens and AI-related tokens have exhibited higher leverage ratios than BTC and ETH.





