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 <p class="is-style-lead">Theta Network’s native token, THETA, has constantly risen over the past two weeks as the broader crypto market gained bullish momentum.</p>
 <p>THETA reached a three<a rel="noopener noreferrer nofollow" title="-month" href="https://thebittimes.com/tag/month.html">-month</a> high of $0.79 at around 01:00 UTC on Nov. 1 with a total market cap of $790 million. The rise comes as Theta Network’s social volume witnessed a 50% surge over the past 24 hours and a 350% boost since Oct. 28, per Santiment data.</p>
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   <img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2023/11/01/cef17603e286991598247bff56558b14.webp" alt="THETA reaches 3-month high amid rise in short positions - 1"> 
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   THETA price, social volume, Open Interest and Binance funding rate – Nov. 1 | Source: Santiment
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 <p>Moreover, THETA emerged as the top gainer among the top 100 crypto assets, with a 10% hike in the past 24 hours.</p>
 <p>The asset is trading at $0.756 at the time of writing, with a market cap of just over $755 million.</p>
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 <p>Theta Network’s 24-hour trading volume skyrocketed by 531%, reaching almost $97 million. According to data provided by the market intelligence platform, THETA’s total open interest (OI) surged by 32% over the past day, reaching $18.86 million.</p>
 <p>In simple terms, almost 20% of the total trading volume comes from derivatives contracts, suggesting that investors might be waiting for a major movement.</p>
 <p>Furthermore, the Binance futures funding rate currently sits at 0.004%, down by 60% over the past day, per Santiment.</p>
 <p>When the Binance funding rate stands on the positive side, it suggests that the ratio of short-position holders is larger than long-position holders.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/theta-reaches-3-month-high-amid-rise-in-short-positions-tbt68627.html">https://thebittimes.com/theta-reaches-3-month-high-amid-rise-in-short-positions-tbt68627.html</a></p>

THETA reaches 3-month high amid rise in short positions

TheBitTimes

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