Glassnode: TON Contract Holdings Surge to Highest Level Since February 18, Possibly Indicating Imminent Price Correction

Glassnode posted on social media that in the past 24 hours, the open interest in TON perpetual contracts surged by 33%, rising from $143 million to $190 million, reaching the highest level since February 18. Notably, even after the price pullback, the open interest remains high. Historical data shows that similar surges in open interest often signal a price correction, warranting close attention.