June 27 (Cointime) - Bitcoin Cash's open interest in futures has surged to over $400 million, indicating higher inflows and improved sentiment. This surge in open interest is likely due to the network's revival of activity and value, with BCH prices doubling in the past week. The majority of the trading interest has come from Binance, where traders opened $240 million worth of BCH long or short positions.

The surge in open interest can be used as an indicator to determine market sentiment and the strength behind price trends. Bitcoin Cash underwent a network hard fork in May, introducing plans for "CashTokens" and other improvements that likely contributed to the sudden trading interest.