Stellar (XLM) experiences an increase of more than 8%
As of September 4, 2023, Stellar ($XLM) has seen an 8% price increase, indicating a potential mini-breakout. This comes at a time when the asset has been consistently “shorted by the masses,” data from Sanitation. The price increase could be further fueled by liquidations.
Market watch list: TON, XMR, ARB
Based on data from Santiment, investors should keep a close eye on cryptocurrencies TON, XMR, and ARB, as these assets are also being “shorted by the masses.”
According to the latest data, the market value of XMR is approximately $21.3 million, a significant increase from $11.7 million on August 21. The long/short ratio for XMR is 1.44, indicating balanced market sentiment. This suggests that XMR is less likely to experience liquidity issues in the long positions.
The declining open interest of ARB
In contrast, ARB has seen a decline in open rates. It peaked at about $60 million on August 28, but has since dropped to $48.7 million. Despite the decline, outstanding interest remains significant. However, the ARB’s long/short ratio of 3.78 serves as a warning sign for long traders, pointing to potential liquidity risks.
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