Privacy -focused Cryptocurrency Monero (XMR) has seen a sharp price sale over the past three days, with open positions in futures increases to their highest level since December.

On Wednesday, the largest privacy coin at market value fell to $ 325 on Kraken after he peaked at $ 420 on Monday, according to data source trading.

The sale follows a meteoric seven -week increase from $ 165 to $ 420, allegedly led by a favorable US regulatory view and impending FCMP ++ upgrade, which will improve Monero’s quantum resistance by giving forward secrecy.

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Open interest rises

The fall in prices is characterized by increased participation in the futures market, where the number of active or open contracts jumped to 161.37K XMR, the highest figure since December 20, according to Data Source CoingeCKO. Oi has increased by 20% over the past three days.

An increase in open interest, together with a price drop, is typically interpreted as representing a bearish atmosphere where several dealers occupy short positions in anticipation of a price drop.

Financing rates have positive ones

This is not necessarily the case with XMR, as the eternal financing rates remain positive, indicating a bias for long positions. Financing rates charged every eight hours represent the cost of keeping geared futures betting with positive values ​​representing a dominance of Bullish long efforts.

Therefore, in XMR’s open interest, Uptick represents a “Buy DIP” mentality – dealers who take long positions on the price duty and expect a speedy recovery.