The post Bitcoin Futures Open Interest Crosses $21 Billion, Chainlink Price Surges to 1 Year High Ahead of NuggetRush Milestone appeared on BitcoinEthereumNews.com.

The dollar-valued in Bitcoin open and perpetual futures have topped $21 billion for the first time since November 2021. A surge in DeFi activity has fuelled a Chainlink price pump to surpass a 1 year high at $20.85. NuggetRush is on the verge of a crypto ICO major milestone, as the launch of its GameFi project approaches. Bullish sentiment has returned to the cryptocurrency market as prices increase across the board. As the price of Bitcoin (BTC) increased over the past week, the dollar value locked in open or active BTC futures contracts has risen to a 26-month high above $21 billion. One of the top altcoins that has benefited from the bullish sentiment is Chainlink (LINK) as its price rallied past $20.85 for a new yearly high. The spotlight has also been on NuggetRush (NUGX) as it nears a major milestone in its cryptocurrency ICO. Read on to find out more. Bitcoin (BTC) Futures Open Interest Jumps To $21 Billion The price of Bitcoin (BTC) has been on the rise over the past few weeks. Increasing by more than 17% in the past week, BTC has moved past $50,000 for the first time since December 2021. As its price increased, so did the Bitcoin open and perpetual futures. As reported by CoinShares, for the first time since November 2021, the liquidity locked-in open futures and perpetual futures contracts have surpassed $21 billion. Despite the rising OI, the overall leverage of Bitcoin has remained low. This means that the price of Bitcoin is less prone to liquidations-induced price volatility. With this, Bitcoin could continue increasing in the coming weeks. Following its breach of $50,000, the Bitcoin price could attempt to rally to $60,000. NuggetRush (NUGX) Approaches Major Milestone Before Launch In the recent crypto market recovery, NuggetRush (NUGX) has been…

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Filed under: News - @ February 17, 2024 9:24 pm