Chainlink Slides 3% as Binance Spot and Futures Data Diverge

Chainlink (LINK) fell 3.05% to $13.08 at 4:29 a.m. ET (8:29 a.m. UTC) Tuesday as Binance futures open interest increased while the spot price declined, leaving the direction of new derivatives positioning unresolved. Binance futures open interest rose 5.91% over 24 hours to about $110.2 million. The contrasting moves indicate increased derivatives positioning alongside a weaker spot price, but open interest alone does not show whether traders added long positions, short positions or hedges. On Binance’s spot market, LINK traded between $12.26 and $13.50 during the same period. Binance spot volume totaled $32,898,095.