XRP, ADA and SHIB Might Be Top Beneficiaries of Rising Bitcoin Open Interest, Here’s Why

Amid this very promising start to the week, Bitcoin is currently seeing a major uptick in its Open Interest, as data from CoinGlass . This rising Open Interest is a significant trend that might see a massive influx of new cash into the BTC network, a trend that can help fuel an uptick in price across the board.

To further place this potential in proper perspective, CoinGlass acknowledged that per its data, a big move appears to be brewing, with current growth rate amplifying this sentiment.

With Bitcoin dominance to the 50% level over the past 24 hours, the chances that the impact of the asset will be felt much more by the trio of ADA, XRP and SHIB are higher.

While other altcoins are also in line to be impacted by this potential bullish trend for Bitcoin, the fact that the three altcoins under review have a vibrant ecosystem with makes them prime candidates to experience the resurgence.

This article was originally published on U.Today

Source: Cryptocurrency -

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