Monero (XMR) climbed 12% to a three-month high on Oct. 22, two days after a wallet closed a 36,000-XMR long and booked a $3.441 million gain.
The long dated to Aug. 9. The Oct. 22 advance implied a further $4.77 million in potential gains on the closed position, which was not realized.
During the five days ending Oct. 20, XMR-denominated futures exposure grew about 22%, while the coin's price rose 9%. At the close on Oct. 20, that open interest had a dollar value of $198 million.
Open interest counts futures positions that remain open. Each contract pairs a buyer with a seller, so the total tracks outstanding exposure without indicating whether the market is net long or net short. An earlier market update recorded a 5.1% decline in XMR on Oct. 21, between the wallet’s exit and the subsequent advance.
