This isn't a trend-driven market; it feels more like a spot market gets ignited first, and the futures then chase it as a sentiment-driven market. $NBISB spot price is $253.48, up +23.76% in 24h; the high/low is $263.66 / $204.08. Volume is only $7.47M, but the number of trades reached 63,378—each trade isn't big, yet there are many people chasing price.
I didn't open a position, not even a 2% test order. The reason is simple: if in this kind of market the futures trading volume has already run far ahead of spot, while the funding rate is still rising and open interest keeps increasing, it can later turn into everyone trying to push and clear each other's liquidation levels. Getting into the leaderboard isn't because the structure is prettier—it's because the sentiment is concentrated enough. $NBISB #BinanceSquare
I didn't open a position, not even a 2% test order. The reason is simple: if in this kind of market the futures trading volume has already run far ahead of spot, while the funding rate is still rising and open interest keeps increasing, it can later turn into everyone trying to push and clear each other's liquidation levels. Getting into the leaderboard isn't because the structure is prettier—it's because the sentiment is concentrated enough. $NBISB #BinanceSquare