USELESS climbs 12% as shorts take hit: Is $0.20 next for the memecoin?

Useless Coin [USELESS] went against today's broader cryptocurrency market decline, gaining 12.56%with rising trading activity. Particularly, its spot trading volume surged 19.04% to $19.41 million, highlighting stronger market participation during the price rally. The elevated participation therefore accompanied renewed buying activity, which helped the memecoin outperform the broader market despite the ongoing weakness. Futures traders increase their exposure to USELESS Besides the heightened spot market activity, USELESS also registered a sharp surge in derivatives activity as investors expanded their positions. To be specific, the derivatives trading volume increased 13.76% to $147.39 million, showing increased participation across the futures markets. More importantly, Open Interest also climbed 17.92% to $79.97 million, which highlighted fresh capital entering outstanding derivatives positions.

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