$HUMA Funding rate: -0.043%/hour, annualized -380%. It’s already down 76.0% in 30 days, yet shorts are still piling in and paying every hour.
· Open interest up 5.9% in 24h, to $5.3 million
· Open interest/market cap: 38.9%; derivatives traders are calling the shots
· Long/short account ratio: 0.84, meaning there are also more shorts by account count
Huma is building PayFi. Simply put, it’s an on-chain channel that advances funds to cross-border payment companies, using stablecoins to cut settlement times from days to near-instant. Its token was listed on Binance Alpha last May.
The funding rate has been deeply negative for several periods in a row, suggesting this isn’t due to a one-off spike—shorts have been steadily adding positions. With the price already down so much and shorts this crowded, a rebound could trigger a short squeeze. But the market is small, so leverage could amplify either a squeeze or another sell-off. Another possibility is that spot holders are hedging unlocks with short positions, in which case the negative funding rate may be more like insurance than an outright bearish bet.
Only 17.3% of the supply is circulating, and the FDV is 5.8 times the market cap. The team and investor tokens’ initial unlock was reportedly pushed back to November 26, though sources differ. Who receives these tokens will be the most important variable going forward.
#HUMA #资金费率 #DemonCoin
· Open interest up 5.9% in 24h, to $5.3 million
· Open interest/market cap: 38.9%; derivatives traders are calling the shots
· Long/short account ratio: 0.84, meaning there are also more shorts by account count
Huma is building PayFi. Simply put, it’s an on-chain channel that advances funds to cross-border payment companies, using stablecoins to cut settlement times from days to near-instant. Its token was listed on Binance Alpha last May.
The funding rate has been deeply negative for several periods in a row, suggesting this isn’t due to a one-off spike—shorts have been steadily adding positions. With the price already down so much and shorts this crowded, a rebound could trigger a short squeeze. But the market is small, so leverage could amplify either a squeeze or another sell-off. Another possibility is that spot holders are hedging unlocks with short positions, in which case the negative funding rate may be more like insurance than an outright bearish bet.
Only 17.3% of the supply is circulating, and the FDV is 5.8 times the market cap. The team and investor tokens’ initial unlock was reportedly pushed back to November 26, though sources differ. Who receives these tokens will be the most important variable going forward.
#HUMA #资金费率 #DemonCoin
