

The cryptocurrency derivatives market has shown remarkable stability in recent months, with XPIN futures maintaining a consistent $4 billion in open interest throughout November 2025. This figure represents significant institutional confidence in the asset despite XPIN's recent price volatility, which has seen a 40.38% decline over the past 24 hours.
The sustained open interest levels can be interpreted as a sign of market maturity, especially when compared to historical performance:
| Period | Open Interest | Price Change | Market Interpretation |
|---|---|---|---|
| Current | $4 billion | -40.38% (24h) | Institutional stability despite volatility |
| October 2025 | $3-4 billion | +301.13% (30d) | Growth phase with increasing adoption |
| September 2025 | $1-2 billion | Variable | Early institutional entry phase |
This stability is particularly noteworthy given XPIN's dramatic price journey from its all-time low of $0.00031 on October 10, 2025, to its peak of $0.0102442 on October 23, 2025. While retail sentiment currently indicates extreme fear with a market emotion index of 23, professional traders appear to be maintaining their positions, suggesting they may be viewing the current price action as a temporary correction rather than a fundamental change in the asset's prospects.
The persistent $4 billion futures open interest also signals continued professional interest in XPIN's fundamentals as a DePIN project building decentralized communication infrastructure across 150+ countries.
XPIN Network's funding rates have recently stabilized around -0.0005%, a significant technical indicator that suggests prevailing bearish sentiment in the market. This negative funding rate means short position holders are actually receiving payments from long position holders, reflecting market expectations of downward price movement.
The technical significance becomes clearer when examining XPIN's recent price action:
| Time Period | Price Change | Starting Value | Ending Value |
|---|---|---|---|
| 24H | -40.38% | $0.00600 | $0.0035813 |
| 7D | -54.21% | $0.00782 | $0.0035813 |
Such persistent negative funding rates create an interesting market dynamic where contrarian investors may interpret this extreme bearish sentiment as a potential signal for an upcoming reversal. Historical market data suggests that when funding rates remain consistently negative while approaching psychological thresholds like -0.0005%, markets often experience mean reversion.
The AAII Sentiment Survey research supports this contrarian view, indicating that excessive bearish sentiment frequently precedes market uptrends. With XPIN's history of volatility (reaching an all-time high of $0.0102442 on October 23, 2025), current negative funding rates might attract strategic investors looking to position against the prevailing sentiment, potentially creating the conditions for a short squeeze if positive catalysts emerge.
The XPIN market's long/short ratio reveals significant volatility and cautious sentiment among traders. Recent data shows substantial liquidations on both sides of the market, with particular intensity during October's dramatic price fluctuations. The most notable event occurred on October 10th, when XPIN experienced a severe drop to $0.00031, triggering massive liquidations as the price plummeted from $0.0012033.
| Date | Price Movement | Liquidation Event |
|---|---|---|
| Oct 10 | $0.0012033 → $0.00031 | Major shorts & longs liquidated |
| Oct 16 | $0.0011406 → $0.002841 | Significant long positions cleared |
| Oct 23 | $0.0049796 → $0.0102442 | Shorts heavily liquidated |
| Nov 4 | $0.0061723 → $0.0037259 | Mixed liquidations as price fell 40% |
The current long/short ratio indicates traders remain hesitant after experiencing multiple violent price swings. With recent 24-hour price drops of 40.38% and seven-day declines of 54.21%, market participants are rightfully exercising caution. The liquidation data further demonstrates this market's fragility, as leveraged positions on both sides have repeatedly faced forced closures. This pattern of alternating long and short liquidations suggests traders lack conviction about XPIN's immediate direction, creating a market environment where sudden price movements can trigger cascading liquidation events.
Xpin coin is a cryptocurrency powering the XPIN Network, a decentralized wireless infrastructure project using blockchain and AI for global connectivity. It facilitates transactions within the network's user-owned DePIN assets.
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XPIN has the potential for 1000x growth by 2025, given its innovative technology and strong community support.
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