king.eth

one metric that almost nobody is talking about: $USELESS has more perps Open Interest (OI) than literally every memecoin on Lighter (the biggest perps DEX to list it) except $TRUMP that's more OI than: • $DOGE • $SHIB • $PEPE • $BONK • $PENGU • $WIF • etc but what's even more interesting is this: USELESS also has the highest OI-to-market-cap ratio of ANY memecoin on Binance perps for example (on Binance): • $USELESS has a market cap of $70 million and an OI of $8.3 million meanwhile (on Binance): • $WIF has a market cap of $160 million and an OI of $11 million • $FARTCOIN has a market cap of $128 million and an OI of $11.5 million • $SPX has a market cap of $330 million and an OI of $2.4 million • $BONK has a market cap of $400 million and an OI of $11.3 million • $PEPE has a market cap of $1.2 billion and an OI of $50 million • $PENGU has a market cap of $430 million and an OI of $15.7 million • $TRUMP has a market cap of $500 million and an OI of $37.7 million • $SHIB has a market cap of $2.95 billion and an OI of $20.6 million • $DOGE has a market cap of $13.7 billion and an OI of $190.6 million USELESS has incredibly large OI for a memecoin with only a $70 million market cap these are the kinds of details you pay attention to when trying to anticipate outsized moves before they happen i said last week that i thought $BTC had likely bottomed for the time being, and the peace deal news we got today only increases my conviction that this may be the case of course, experience has shown that nobody knows exactly what the market will do next but IF the $BTC bottom is indeed in for the time being (and i think it is), then i don't think many people realize just how explosive things could get for USELESS relative to other memecoins the objective data is already telling a very interesting story, and i think it would be crazy to not have exposure to USELESS here if you're trading memecoins!