Fartcoin derivatives open interest ranks among the top ten, speculative boom emerges

On July 23, according to CoinDesk, $Fartcoin ($FARTCOIN), a meme coin of the Solana ecosystem, has now become one of the top ten tokens in terms of open interest in cryptocurrency derivatives. Data shows that the nominal open interest of Fartcoin-related futures has exceeded $1.00 billion, surpassing mainstream currencies such as Litecoin, $LINK, and AVAX. It is worth noting that $Fartcoin's open interest has reached 65.00% of its market value, while its market value ranks 83rd in the world. This abnormally high open interest is considered a signal of overheated market speculation. Similar phenomena are also reflected in other small-cap currencies, which may lead to large-scale investor liquidation risks. [PANews]