Check the numbers against the top 3 contract gainers this morning.
BNC conclusion: stalled.
Current price is 5.074, down 6.14% from the initial offering price of 5.406.
Open interest fell from about $16.66M to about $14.53M, a decline of 12.81%. The funding rate also dropped from 0.0906% to 0. The proportion of active buy orders decreased from 0.93 to 0.63, and the momentum for chasing longs clearly retreated.
VVV conclusion: booked profits.
Current price is 25.661, up 3.33% from the initial offering price of 24.835.
Open interest edged up to about $39.78M, up 2.35%. The funding rate fell from 0.0191% to 0.005%. Price continued to trend higher, but the funding rate is moving downward.
USELESS conclusion: booked profits.
Current price is 0.30524, up 3.87% from the initial offering price of 0.29386.
Open interest rose from about $36.58M to about $39.25M, up 7.28%. The funding rate increased from 0.01% to 0.0363%. The proportion of active buy orders rose to 1.05. Adding to positions and chasing longs are moving in tandem.
For BNC, the funding rate has already dropped to 0, and both open interest and the active buy ratio are weakening together. Whether it can stop the decline depends on whether these two indicators rebound again.
VVV and USELESS prices are still continuing their uptrend since the initial offering. But the funding rate is moving in opposite directions—one down, one up—so the divergence is widening. After the surge, the contract positions themselves carry the risk of a high-and-fade move. Going forward, we’ll keep watching changes in volume/throughput and the funding rate.
#BNC #VVV #USELESS # Contract recap
Live account disclosure: This account currently holds
$FOGO long positions; the related viewpoints are consistent with the actual positions.
This content was generated with assistance from Claude Fable 5, for informational reference only—please verify independently.