Dogecoin (DOGE) registered a massive spike in its derivatives volume in a 24-hour time frame, with a relevant weight compared to its market capitalization. This surge means an increased interest by the cryptocurrency market in the leading memecoin.

Notably, Dogecoin derivatives volume more than doubled in a day, according to data from CoinGlass retrieved by Finbold on November 17. As of writing, speculators were trading $5.04 billion worth of DOGE using derivatives.

특히 11월 17일 Finbold가 검색한 CoinGlass의 데이터에 따르면 Dogecoin 파생 상품 거래량이 하루 만에 두 배 이상 증가했습니다. 이 글을 쓰는 시점에서 투기꾼들은 파생 상품을 사용하여 50억 4천만 달러 상당의 DOGE를 거래하고 있었습니다.

The spike followed a price increase for Dogecoin in the spot market, trading at $0.083 for approximately 4% daily gains. In the meantime, other cryptocurrencies were registering losses in price and derivatives volume.

이러한 급등은 현물 시장에서 Dogecoin의 가격 인상에 따른 것으로, 일일 약 4% 상승으로 0.083달러에 거래되었습니다. 그 동안 다른 암호화폐들은 가격과 파생상품 거래량에서 손실을 기록했습니다.

Interestingly, the volume surge happened while keeping the balance between long and short positions. Traders opened a total of $2.33 billion (49.48%) and $2.38 billion (50.52%) in each position, respectively.

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It is also possible to see other cryptocurrencies’ performances in the same “Crypto Derivatives Trend” dashboard used to retrieve Dogecoin’s data.

Dogecoin의 데이터를 검색하는 데 사용된 것과 동일한 "암호화폐 파생상품 동향" 대시보드에서 다른 암호화폐의 성과를 볼 수도 있습니다.

Bitcoin’s (BTC) derivatives volume was falling by 24.54% to $45.66 billion worth of contracts, for 6% of its $711 billion market capitalization. Meanwhile, Ethereum (ETH) lost 14.42% of daily volume to $23.62 billion, accruing more than 10% of its $233 billion market cap.

At the same time, Solana (SOL) lost 5.56% to $8.68 billion in derivatives volume. The XRP Ledger (XRP) had the smallest volume among the top 5, with $1.75 billion and a daily loss of 3.67%.

동시에 솔라나(SOL)는 파생상품 규모가 5.56% 감소한 86억 8천만 달러를 기록했습니다. XRP 원장(XRP)은 17억 5천만 달러, 일일 손실률 3.67%로 상위 5개 중 가장 작은 거래량을 기록했습니다.

Essentially, XRP’s derivatives volume represents 5.3% of its $32.58 billion market capitalization, slightly weighting toward short positions with a 52.50% domination over longs. As for comparison, Dogecoin’s current volume represents 42% of its $11.83 billion market cap.