Papertrade Open Interest Falls 60% to $1.3B in 24 Hours
- —Papertrade open interest fell to $1.3B within 24 hours
- —The 60% drop implies a prior level near $3.25B
- —About $1.95B in notional exposure exited in a day
- —No confirmed cause for the position unwind
Why it matters: A contraction this sharp points to heavy deleveraging; whether open interest stabilizes or keeps falling will show if it was a one-off reset or sustained risk-off.
Source: Coincu