NewsHK
Altcoin perpetual futures open interest surpassed Bitcoin's on September 6, marking the first occurrence since December 2024.
On that day, altcoin contracts reached approximately $40 billion, while Bitcoin's open interest stood at $23.9 billion, representing 37% of the combined total.
Zcash was the primary driver of this shift, with its open interest hitting a record $2.4 billion in early September.
This surge followed a 134% price gain over 30 days, during which Zcash briefly touched $1,023 on September 4 after a single-day jump of about 20%. The price movement forced $34 million in short positions to close.
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