These crypto coins carry the biggest lever

These crypto coins carry the biggest lever

The crypto lever is high in some specific digital media in space. Global open interest in space is still at a reasonable point at the moment, but some assets boast a much higher ratio of open interest to market capitalization than others. Therefore, this report will examine the leverage for these assets to see which one has increased leverage.

Altcoins lead to leverage

Bitcoin and ethereum undoubtedly still have the largest share of global open interest in cryptocurrencies, but when it comes to the percentage of their market capitalization ruled by their open interest, it is lower compared to other digital assets in space.

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A good number of these altcoins have become popular in recent months, spending less time in the spotlight than their beloved counterparts bitcoin and ethereum. However, these digital assets have shown a far higher ratio of open interest and market capitalization than bitcoin and ethereum.

From a perspective, the open interest to market capitalization ratio for crypto coins such as bitcoin and ethereum is 1.97% and 2.19%, respectively. Each of these funds has an open interest rate of $ 15.5 billion and $ 8 billion. Other newly acquired cryptocurrencies boast a much higher ratio, although they can boast only a small percentage of global open interest in crypto space.

Altcoins lead open interest to market cap ratio | Source: Arcane Research

The highest of them is SUSHI, which leads with a huge 10.09% of open interest and market capitalization. The relatively new cryptocurrency is in second place with almost 1.5%. YFI took second place with 8.59%, with CRV and EOS in third and fourth positions with 8.30% and 5.95% respectively.

Metaverse Crypto Coins on the upcoming

Metaverse Crypto coins had an incredible development in the last quarter of 2021. The boom caused by Facebook’s announcement to rebrand into Meta continued in the new year, putting the top metaverse tokens on the list of cryptocurrencies with the most elevated values. lever.

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Of the 16 coins presented in an Arcane Research report showing increased leverage in some of the most popular altcoins, four metaverse tokens were on the list. SAND, MANA, AXS and GALA all had an open interest to market capitalization ratio of 3.29% and above.

AXS led the package with a 4.44% ratio, showing the highest and MANA the lowest. Both are indicative that traders use both MANA and AXS to protect their exposure to the metaverse.

Layer 1 tokens were not left out of the action, as both FTM and Near recorded a ratio of open interest and market capitalization higher than that of large-capital coins. The FTM ratio was 4.02%, while Near recorded 3.15% of the OI relative to market capitalization.

These crypto coins carry the biggest lever

Crypto total market recovers above $2 trillion | Source: Crypto Total Market Cap on TradingView.com
Featured image from Crypto News, charts from Arcane Research and TradingView.com



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