Published Sep 20, 2026, 6:20 PM ET · Updated 2 months ago · 1 source
Perp open interest rise reflects aggressive reuse of existing liquidity, not fresh capital
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Original Report
The 12.8% rise in perpetual futures open interest across 15 venues during September 13-19, combined with nearly unchanged stablecoin supply over 30 days, indicates traders are more aggressively deploying existing liquidity rather than new cash entering crypto.