Conclusion first: NEAR is down 4% in one day, and open interest has also shrunk by 2.4%, but the longs are still stubbornly holding on. Over the past 24 hours, $2.73 million was liquidated in total, accounting for nearly 90%.
Current price is 4.639. Binance is down 3.974%, OKX is down 4.114%. The day’s high is 4.877 and the low is 4.585. The price movement and the percentage drop line up pretty well.
The entire network’s NEAR contract open interest is $1.31 billion, down $32 million over the past 24 hours. Hyperliquid’s open interest is $325 million, accounting for 24.8% of the total; it fell by 3.75% in a day. Binance and OKX’s positions also dropped by 3.97% and 5.5%, respectively. Leverage is being pulled back, but not yet completely.
308 million liquidations in the past 24 hours: 2.73 million long positions and 0.35 million short positions. People who chase longs will be hit first. Binance and OKX funding rates are both about 0.01% per 8 hours, which annualizes to about 11%. Longs are still paying to hold the line.
$NEAR $BTC
Open interest is decreasing, and the fee rate is still positive. Do you think NEAR will continue to shake out long positions?
Check in real time: https://www.coinboss.com/currencies/NEAR