MINA was pumped from 0.1195 all the way to 0.158—up 27% in 24 hours. The current price is around 0.155. The funding rates on 14 exchanges are all negative; Binance charges shorts 0.096% every 8 hours, with an annualized rate over 100%. The shorts are holding losses and still have to pay carry fees on their positions.
In the past 24 hours, liquidations totaled $158,000, with 85% coming from short positions. Open interest increased 32% in a day to $25.82 million. Not many have surrendered—new shorts are still entering. On Binance whales’ accounts, 63% are long positions, standing on the shorts’ opposite side.
Prices, rates, and open positions point to the same thing: the shorts haven’t backed down. Do you think this squeeze cycle is over?
View in real time: https://www.coinboss.com/funding-rate