In recent developments, TON's open interest has surpassed $240 million after reaching a peak of $8 USD. Currently, Bybit holds 53% of the total open interest, with Binance's share gradually increasing since TON's launch on Binance Futures. This followed Bybit and Okex's market entries.

However, it is important to note the weakening trend in the monthly open interest delta, possibly due to the closure of leveraged positions by whales and the majority of traders. Historically, TON's price has seen sharp declines when the short-term to monthly open interest delta enters negative territory.

This indicator suggests a decrease in risk appetite or a correction in the derivative market, directly influenced by whales and affluent traders, thereby impacting the cryptocurrency's price. Therefore, continuous monitoring of these metrics is crucial to understand public interest and sentiment towards TON, providing valuable insights for investment strategies and market decisions.