GSR: Crypto Perpetual Outstanding Rises to 11-Month High, Overall Leverage Remains Mid-Year

Citing Coinglass data, GSR Weekly reported that open positions in crypto perpetual contracts rose to an 11-month high of about $155 billion this week, a significant rebound from a low of about $90 billion in February and the highest level since a large-scale position explosion on October 10 last year. At that time, about $19 billion of positions were liquidated, and the amount of open positions plummeted from about $220 billion to $150 billion. GSR pointed out that although the current open positions have recovered, the proportion of open positions relative to the total market capitalization of the crypto market has dropped from 2.7% to 2.6% this week, which is still significantly lower than the high leverage stage in October last year. The perpetual contract capital rate has also dropped from an annualized 7.5% to 2.4%, indicating that the current leverage level is in the middle of the past year, and the market position is more balanced than that in October last year.