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Analysis

CYBER Perpetual Contracts Record 220% Increase In Trading Volume

September 2, 2023 - Around 2 mins mins to read

Key Points:

  • CYBER perpetual contracts experience massive trading volume increase of 219% in the past 24 hours, second only to BTC and ETH.
  • On Binance, CYBER contract’s trading volume is $5.63B, making it the second-most traded asset, surpassing ETH.
  • CYBER contract open interest is significantly high, amounting to $287M.
CYBER perpetual contracts see 219% increase, second only to BTC and ETH, with $9.64B trading volume and $287M open interest.

In the past 24 hours, CYBER perpetual contracts have recorded a trading volume of 9.64 billion US dollars, marking a 218% increase, which is second only to BTC and ETH. The trading volume on Binance is a whopping 5.63 billion US dollars, surpassing ETH to become the second-most traded asset. CYBER contract open interest is also significantly high, amounting to $287 million.

CYBER Perpetual Contracts Record 220% Increase In Trading Volume
Source: Coinglass

According to Wu Blockchain, Korean traders have been pumping CYBER tokens, which have seen a 150% increase in just seven days. The price of CYBER on Upbit rose to around $16.1, while the price on Binance was $9.3. The annualized funding rate of CYBER U-based contracts was above -500% on major exchanges and -662% on Binance at the time.

As of now, CYBER is trading at $12.56 which is a significant increase of nearly 45% over the last 24 hours, as shown by CoinMarketCap data.

CYBER Perpetual Contracts Record 220% Increase In Trading Volume
Source: CoinMarketCap

CoinCu reported that DWF Labs has also been increasing its CYBER token holdings, acquiring 170,000 units over the past week and executing a transfer of 170,000 CYBER tokens to the Bithumb exchange within the last 24 hours.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.