Markets · JCT up to 20x
JCT perp positions grew on Aster as their dollar value fell 19%
Open contracts covered 23.8 million more JCT on Monday than on Sunday afternoon. A drop in the price Aster used to value them wiped about $2.1 million off their combined value.
Traders on Aster held more JCT-2.73% in perpetual futures positions on Monday than they had on Sunday afternoon, even as the value of those contracts fell from $10.82 million to $8.72 million. The exchange’s mark price fell 21.9% between the two readings, more than offsetting a 3.2% increase in the quantity of JCT under contract.
| Reading (Eastern) | JCT under contract | Mark price (USDT) | Value at the mark |
|---|---|---|---|
| Thu., Nov. 5, 7:39 p.m. | 357,199,133 | 0.00300449 | $1.07 million |
| Sun., Nov. 8, 3:30 p.m. | 738,721,603 | 0.01464033 | $10.82 million |
| Mon., Nov. 9, 1:56 p.m. | 762,555,362 | 0.01143000 | $8.72 million |
Rolling 24-hour turnover reported by Aster at each of the three readings. The Sunday and Monday windows overlap.
| November 5 | $10.2M |
|---|---|
| November 8 | $35.8M |
| November 9 | $34.9M |
What changed between Sunday and Monday
At 3:30 p.m. Eastern on Sunday, Aster reported 738.7 million JCT in open interest. That figure counts the amount of JCT covered by outstanding contracts, with each long and its matching short counted once. At 1:56 p.m. Monday, the total stood at 762.6 million JCT.
To value those positions, multiply the quantity by the exchange’s mark price. Aster marked JCT at $0.01464 on Sunday afternoon and $0.01143 on Monday. Someone looking only at the dollar decline would miss the 23.8 million additional JCT under contract. The exchange totals do not identify the traders or their collateral.
Why the starting date matters
Thursday evening tells a different part of the story. At 7:39 p.m. Eastern on November 5, Aster had 357.2 million JCT under contract at a mark price of about $0.003. By Monday, the dollar value was still more than eight times Thursday’s $1.07 million, despite the decline from Sunday.
Trading volume measures how much changed hands, including trades that closed positions. Aster reported $34.9 million of JCT perp turnover in the 24 hours through Monday afternoon, close to the $35.8 million in its rolling Sunday tally. The two windows overlap. The extra 23.8 million JCT in open contracts measures what remained outstanding after that trading.