OG Token Jumps 54% as Bitcoin Holds $112,000 Support Level

The crypto market showed stability, with Bitcoin (BTC) maintaining support at $112,000, despite trading below its 50-day simple moving average. The CoinDesk 20 Index increased by over 1%, and notable gains were seen in tokens like OG, AVAX, MNT, ASTR, CRO, NEAR, and XLM.

Key Highlights

0G (Zero Gravity) Token: Launched alongside the Aristotle mainnet on Sep. 18 as an AI-focused layer-1 blockchain. It saw a 54% rise in value, influenced by community rewards and strategic partnerships. Current market cap is $1.23 billion with daily trading volume at $3.3 billion. Key investors include Hack VC and OKX Ventures.
Derivatives Market: Global notional futures open interest decreased to $102 billion from $110 billion due to liquidations. AVAX and other tokens showed significant increases in open interest, indicating potential bullish trends. Negative funding rates persist in XRP, BNB, ADA, LINK, and 1000SHIB futures.
Futures and Options: CME-listed BTC futures growth stalled. However, options open interest rose to its highest since April. On Deribit, traders favored BTC call options, easing put skews for BTC and ETH.