The coins on Binance that have been shorted the hardest are called “Binance Life”
Among Binance’s 337 contracts, the highest percentage of short positions is in “Binance Life”: 73.97% of accounts are short, and only 26% are long. This joke coin’s market cap ranks 94th, at $537 million.
The price doesn’t cooperate, either—it’s up 7% in 24 hours. The current price is $0.537, just a breath away from the $0.5397 high.
In theory, if 70%+ are short and the price is rising, you’d expect a batch of shorts to get forced out. In reality, liquidations in the past 24 hours totaled only $28,000—$18,000 of that was short positions. Compared with Binance’s $42.76 million position size, it’s basically nothing. The fee rate is also just 0.005% every 4 hours, so holding shorts almost costs nothing.
The shorts won’t leave, and their costs are low—this standoff can only end one of two ways: either the price drops to prove the 70% short thesis is right, or it keeps pushing higher to squeeze them out one by one. The truth will be clear above 0.54.
Long/short ratio data: coinboss.com/long-short-ratio
Among Binance’s 337 contracts, the highest percentage of short positions is in “Binance Life”: 73.97% of accounts are short, and only 26% are long. This joke coin’s market cap ranks 94th, at $537 million.
The price doesn’t cooperate, either—it’s up 7% in 24 hours. The current price is $0.537, just a breath away from the $0.5397 high.
In theory, if 70%+ are short and the price is rising, you’d expect a batch of shorts to get forced out. In reality, liquidations in the past 24 hours totaled only $28,000—$18,000 of that was short positions. Compared with Binance’s $42.76 million position size, it’s basically nothing. The fee rate is also just 0.005% every 4 hours, so holding shorts almost costs nothing.
The shorts won’t leave, and their costs are low—this standoff can only end one of two ways: either the price drops to prove the 70% short thesis is right, or it keeps pushing higher to squeeze them out one by one. The truth will be clear above 0.54.
Long/short ratio data: coinboss.com/long-short-ratio