According to glassnode, $OM's Futures Estimated Leverage Ratio (ELR) nearly doubled to 0.4 by 19:30 UTC, coinciding with a price drop to $0.57. This increase in ELR alongside a decline in Open Interest (OI) suggests that spot holdings on exchanges were either withdrawn or reduced. This shift may indicate traders are leveraging futures rather than holding spot positions, a crucial insight for $OM traders looking to understand market dynamics and potential volatility.

According to @EmberCN, in the face of recent market turbulence, options are highlighted as a viable choice for investors seeking stable profits. Unlike traditional futures, which risk liquidation, and spot holdings that might suffer large drawdowns, options offer a 'non-liquidating leverage' advantage, making them ideal in high volatility scenarios.

According to AltcoinGordon, the trader expresses confidence in maintaining spot positions despite market volatility. This suggests a strategic focus on long-term holding rather than short-term trading, indicating stability in his investment approach (source: Twitter @AltcoinGordon).