Glassnode: TON Contract Balance Hits Highest Level Since February 18, Signaling Potential Price Correction

BlockBeats News, May 29th, Glassnode posted on social media today that in the past 24 hours, the TON perpetual contract open interest surged by 33%, rising from $1.43 billion to $1.9 billion, reaching the highest level since February 18th. It is worth noting that even after the price pullback, the open interest has remained at a high level. Historical data shows that similar spikes in open interest often foreshadow price pullbacks, warranting close attention.