Papertrade’s Wild Weekend Ends With 93.7% Open Interest Wipeout

Crypto Insight Summary: After a whirlwind of trading activity on Papertrade, the newly launched perpetuals decentralized exchange (DEX) built on Hyperliquid, the platform’s open interest has collapsed by 93.7% over the past 24 hours. The project’s total value locked (TVL) has also taken a substantial hit, shedding $48 million over the same period. Papertrade’s $11 Billion Open Interest […] Crypto Insight Analysis: Direction: Bearish PT / Neutral DEXs Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Single platform's sharp decline unlikely to affect broader DEX market.