Today, shorting $PIPPIN ended perfectly 🤗
In the afternoon, I saw that Pippin had opened a large amount of OI on Aster, so I checked the support and resistance levels as well as the main capital flow situation (see Figure 2), and then I opened a short position, having already pocketed most of the profits.
I did some research on where to see Aster and other CEX's OI, compared several platforms, and found that the most comprehensive is Coinank (Figure 3), which you can search for yourself.
Additionally, I found that the OI displayed on Aster (see the Open Interest in the upper right corner of Figure 4) is double that of Coinank. I looked into the reason:
1. Coinank (standard unilateral calculation): According to the traditional CEX industry standard unilateral calculation, each long position must correspond to a short position to be executed. So Coinank shows 25M, meaning there are currently long positions worth 25M and short positions worth 25M.
2. Aster Official Website (bilateral nominal value calculation): Many decentralized contract platforms (PerpDEX) use bilateral calculation to make their TVL (Total Value Locked) or data panels appear larger and deeper. They directly add long and short positions together, i.e., 25M (long) + 25M (short) = 50M.
The trading logic is similar to what it was in CEX, except that after strict control in CEX, the battlefield has shifted to DEX:
1. Ambushing large OI (building positions): The operator takes advantage of the unrestricted nature of on-chain platforms to crazily open long positions, accumulating an extremely large OI position (far exceeding the real trading volume).
2. Manipulating spot: Since the index price of the contract follows the spot price, the operator only needs to spend a little money to pump those spots that no one plays, with extremely poor liquidity, to easily push the price up.
3. Spot driving contracts: When the spot price rises, the contract price also goes up. Thus, the huge OI position on the contract side brings massive floating profits.
In the afternoon, I saw that Pippin had opened a large amount of OI on Aster, so I checked the support and resistance levels as well as the main capital flow situation (see Figure 2), and then I opened a short position, having already pocketed most of the profits.
I did some research on where to see Aster and other CEX's OI, compared several platforms, and found that the most comprehensive is Coinank (Figure 3), which you can search for yourself.
Additionally, I found that the OI displayed on Aster (see the Open Interest in the upper right corner of Figure 4) is double that of Coinank. I looked into the reason:
1. Coinank (standard unilateral calculation): According to the traditional CEX industry standard unilateral calculation, each long position must correspond to a short position to be executed. So Coinank shows 25M, meaning there are currently long positions worth 25M and short positions worth 25M.
2. Aster Official Website (bilateral nominal value calculation): Many decentralized contract platforms (PerpDEX) use bilateral calculation to make their TVL (Total Value Locked) or data panels appear larger and deeper. They directly add long and short positions together, i.e., 25M (long) + 25M (short) = 50M.
The trading logic is similar to what it was in CEX, except that after strict control in CEX, the battlefield has shifted to DEX:
1. Ambushing large OI (building positions): The operator takes advantage of the unrestricted nature of on-chain platforms to crazily open long positions, accumulating an extremely large OI position (far exceeding the real trading volume).
2. Manipulating spot: Since the index price of the contract follows the spot price, the operator only needs to spend a little money to pump those spots that no one plays, with extremely poor liquidity, to easily push the price up.
3. Spot driving contracts: When the spot price rises, the contract price also goes up. Thus, the huge OI position on the contract side brings massive floating profits.