ACE rose 85% in the past 24 hours, and trading volume surged to $577 million, taking the top spot on the gainers list. But the interesting part isn’t the rise—it’s the stance of the shorts.
Binance’s ACE funding rate is currently -1.552%, settled every 4 hours. Bybit has already pushed it directly to the -2% lower limit. At this level, holding a short for a day would cost nearly 9% of the position value. Paying back that much and still not covering suggests that a large group believes this move is a pull to distribute (a “pump for exit”).
What’s being slapped in the face right now is them: over the past 24 hours, ACE liquidations totaled $2.08 million, with 63% coming from shorts. Out of 3,093 forced liquidations, shorts were getting liquidated while topping up—again and again. The long/short ratio also confirms the same: on Binance, the number of accounts going long vs. short is almost evenly split, and Bitget’s short accounts still account for 57.8%. With a gain of 85%, there’s still another half actively fighting the trend—this isn’t very common among coins ranked #1 on the gainers list.
Deep negative funding rates plus short-heavy positioning are still in play. In such a structure, the price can often be driven a bit further in the short term. For long holders, it’s essentially like they’re collecting the funding paid by the shorts. But on the flip side, once the squeeze momentum runs out, the funding rate will quickly normalize (move back toward positive). Then the high chasers are the ones left holding the last baton.
Check in real time: https://www.coinboss.com/funding-rate
Binance’s ACE funding rate is currently -1.552%, settled every 4 hours. Bybit has already pushed it directly to the -2% lower limit. At this level, holding a short for a day would cost nearly 9% of the position value. Paying back that much and still not covering suggests that a large group believes this move is a pull to distribute (a “pump for exit”).
What’s being slapped in the face right now is them: over the past 24 hours, ACE liquidations totaled $2.08 million, with 63% coming from shorts. Out of 3,093 forced liquidations, shorts were getting liquidated while topping up—again and again. The long/short ratio also confirms the same: on Binance, the number of accounts going long vs. short is almost evenly split, and Bitget’s short accounts still account for 57.8%. With a gain of 85%, there’s still another half actively fighting the trend—this isn’t very common among coins ranked #1 on the gainers list.
Deep negative funding rates plus short-heavy positioning are still in play. In such a structure, the price can often be driven a bit further in the short term. For long holders, it’s essentially like they’re collecting the funding paid by the shorts. But on the flip side, once the squeeze momentum runs out, the funding rate will quickly normalize (move back toward positive). Then the high chasers are the ones left holding the last baton.
Check in real time: https://www.coinboss.com/funding-rate