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Stellar (XLM) Experiences Over 8% Uptick
As of September 4, 2023, Stellar ($XLM) has seen an 8% enhance in its worth, indicating a possible mini breakout. This comes at a time when the asset has been constantly “shorted by the group,” in keeping with knowledge from Santiment. The uptick in worth may very well be additional fueled by liquidations.
Market Watchlist: TON, XMR, ARB
Based mostly on knowledge from Santiment, traders ought to intently monitor the cryptocurrencies TON, XMR, and ARB, as these property are additionally being “shorted by the group.”
As of the newest knowledge, XMR’s market worth stands at roughly $21.3 million, a big enhance from $11.7 million on August 21. The lengthy/quick ratio for XMR is 1.44, indicating a balanced market sentiment. This implies that XMR is much less more likely to expertise liquidity points within the lengthy positions.
ARB’s Declining Open Curiosity
In distinction, ARB has seen a decline in open curiosity. It reached a excessive of round $60 million on August 28 however has since dropped to $48.7 million. Regardless of the lower, the open curiosity stays substantial. Nonetheless, ARB’s lengthy/quick ratio of three.78 serves as a warning sign for lengthy merchants, indicating potential liquidity dangers.
Picture supply: Shutterstock
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