SHIB futures turnover hits $257.4M vs $77.5M spot, a 3.3x gap
- —SHIB futures turnover reached $257.4M in 24 hours versus $77.5M on spot
- —Open interest totaled $169M, more than double daily spot turnover
- —Top venues by open interest: OrangeX ($25.7M), Binance ($22.4M), KCEX ($14.8M)
- —USDT pairs account for 76.9% of SHIB spot turnover; euro pairs just 2.1%
Why it matters: SHIB price discovery now happens mainly in futures, so forced unwinding of leverage would hit a thin spot market and amplify volatility.
Source: CryptoTicker