Near Protocol's open interest falls $640,000 short of $1.1 billion
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NEAR Protocol's open interest approached $1.1 billion, reaching $1,099,359,784 as of November 1 at 7:41 p.m. KST—just $640,216 short of the $1.1 billion mark, according to CoinGlass data. The figure represents the total value of outstanding NEAR derivative contracts across exchanges, distinct from daily trading volume. TradRadar reported that perpetual futures for NEAR on seven exchanges contributed to the reading as of 7 p.m. KST the same day. This is not the first time NEAR open interest has crossed this threshold: U.Today noted that in October, open interest exceeded $1 billion and approached $1.9 billion. The renewed buildup in leveraged NEAR positions signals elevated trader engagement and potential volatility risk, as large open interest can amplify liquidation cascades during sharp price swings. Market watchers should monitor whether open interest sustains above $1.1 billion or unwinds, alongside funding rates and liquidation data across major venues.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
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NEAR Protocol (NEAR), CoinGlass, TradRadar, U.Today
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