THE SOPH SHORT NOW COSTS UP TO 2% AN HOUR
Sophon is closing its own blockchain on November 30, users have until November 25 to withdraw assets from it, and Up.bit ends SOPH trading on November 16
$SOPH
⏳ That looks like an easy bearish trade, yet Binance Futures data tells a different story
SOPHUSDT funding hit the -2% floor at 12:00 UTC today, and it now settles every hour instead of every four
Negative funding means shorts pay longs, so a crowded short can bleed even while the price falls
📊 As of 20:54 ICT, $SOPH was down about 29% over 24 hours, and the day's high was more than double the low
🔍 One detail holders often miss: on Binance, SOPH deposits and withdrawals now run only on Ethereum, while spot SOPH still trades
The chain shutdown is a deadline for balances sitting on the Sophon network, not by itself a reason for exchange-held SOPH to vanish
⚠️ Funding can normalize as fast as it spiked, so check the rate every hour, not once a day
$SOPH #sophon #fundingrate
Sophon is closing its own blockchain on November 30, users have until November 25 to withdraw assets from it, and Up.bit ends SOPH trading on November 16
$SOPH
⏳ That looks like an easy bearish trade, yet Binance Futures data tells a different story
SOPHUSDT funding hit the -2% floor at 12:00 UTC today, and it now settles every hour instead of every four
Negative funding means shorts pay longs, so a crowded short can bleed even while the price falls
📊 As of 20:54 ICT, $SOPH was down about 29% over 24 hours, and the day's high was more than double the low
🔍 One detail holders often miss: on Binance, SOPH deposits and withdrawals now run only on Ethereum, while spot SOPH still trades
The chain shutdown is a deadline for balances sitting on the Sophon network, not by itself a reason for exchange-held SOPH to vanish
⚠️ Funding can normalize as fast as it spiked, so check the rate every hour, not once a day
$SOPH #sophon #fundingrate
