这种增长也体现在未平仓合约的激增上。在交易量飙升至历史新高的同时，OXT 的未平仓合约也飙升至历史新高。In the past 24 hours, the price chart of Orchid [OXT] has shown a strong increase, and demand has also risen. During this period, the trading volume and price of Orchid also witnessed the most vigorous growth.
The trading volume of Orchid Cryptos surged by 2500%.
The trading volume of OXT has soared 2500% in the past 24 hours, reaching a total of 0.54774 billion dollars.
The increase in volume indicates that traders are actively engaging in Buy and Trade. Such a high growth further signifies a continuous rise in demand for Assets and increasing adoption.
This growth is also reflected in the surge of open interest contracts. As trading volume reaches a historical high, the open interest of OXT has also surged to a historical peak.
According to Coinglass data, the open interest contracts in the last 24 hours have surged to 19 million dollars, an increase of 253.88%.
When both the trading volume and the number of open contracts increase, it means that investors are opening positions, and most of these trades are buys.
What does the OXT chart indicate.
In this upward trend, OXT has seen a strong rise, climbing from a low of $0.0768 to a high of $0.1598. In fact, as of the writing of this article, Orchid is trading at $0.1297 after a 30% increase on the daily chart.
Similarly, this altcoin has also achieved significant growth on the weekly and monthly charts, increasing by 43.15% and 75.15%, respectively.
The continuous rise in trading volume and open contracts indicates that this altcoin is gaining significant favor among investors.
This bullish sentiment can be seen through the consistently increasing outflow. According to IntoTheBlock, the outflow from exchanges has surged to a high of $7.1 million.
This means that despite the altcoin's soaring price, most investors are still transferring their assets to cold storage or private wallets.
In addition, the inflow from large holders surged to a record high of 0.25579 billion OXT tokens this year.
This indicates that large holders are actively buying altcoins, and we can now interpret the surge in trading volume as buying activity or accumulation.
Relative Strength Index (RSI) The rise further supports the inflow of funds, as the index has skyrocketed from a low of 56 to 7.
Keeping existing factors constant, the price chart of Orchid Cryptos may rise further. If this happens, the altcoin will encounter the next significant resistance level around $0.17.
However, if short-term holders turn to profit-taking, the price of Orchid may drop to $0.09.
