$DEXE bottom rise 30x. I noticed abnormal activity on-chain yesterday and started trying to short. In the afternoon, I saw the fee rate anomaly and finally got to eat the move. Now I’m going straight for the ankles. 20 is a threshold; after that, it’s 10. I’ll hold for now.
Summary
1. On-chain anomalies: large transfers are distributed.
2. After a downtrend, it went sideways; BR quickly increased to below -5.
3. Spot capital inflow, while futures/derivatives capital outflow.
After the market maker formed a high negative fee rate during the sideways consolidation, it surged rapidly—more than 30 points in less than two hours. During that period, it kept a high negative fee rate above 5, attracting the long side to pay the funding/fees so positions could be built for the short order.
Summary
1. On-chain anomalies: large transfers are distributed.
2. After a downtrend, it went sideways; BR quickly increased to below -5.
3. Spot capital inflow, while futures/derivatives capital outflow.
After the market maker formed a high negative fee rate during the sideways consolidation, it surged rapidly—more than 30 points in less than two hours. During that period, it kept a high negative fee rate above 5, attracting the long side to pay the funding/fees so positions could be built for the short order.