UNITREE robot tokenized stock has become the most convoluted trade in the entire market today.
After its price surged above $116, it pulled back to $114.3. In the past 24 hours, it’s still up 16.1%, with trading volume of $1.796 billion—one of the usual regulars on the gainers list.
But over on the derivatives side, it’s a completely different picture:
- Total open interest across the market is $13.28 million; it jumped 61.5% in 24 hours, with all 6 exchanges adding to positions
- Gate accounts for 50.8% alone; Bybit open interest increased 258.6% over 24 hours—funds are still flowing in
- The funding rates on 8 exchanges collectively flipped negative: Binance/Bybit/Aster, among others, saw their funding rates go straight to the limit at -2%, with shorts effectively paying at the cap
- In the last 24 hours, liquidations hit $1.284 million, with shorts accounting for 93%
Let’s translate what this means: spot buy pressure pushed the price up, while shorts have been stubbornly refusing to give up at the funding rate ceiling. At -2% per 8 hours, shorts have to pay a daily carry cost of 6% of their position. As long as the price doesn’t fall back below the breakout point, this batch of shorts is effectively paying the longs their wages every day.
Even more extreme: Bybit open interest has doubled 2.6x—new short positions are still queuing up, betting that this rally-and-pullback continues.
But on the 1-hour chart, there are already signs of change: in the last hour alone, $49,500 was liquidated, and longs made up 96.5%. Chasing longs are starting to get cleared out in smaller waves. Shorts held through the fiercest push, and the standoff between longs and shorts is beginning to loosen.
Whether UNITREE can launch a second attack depends on when open interest and funding rates normalize. Only when open interest falls and funding rates return to positive can the market be said to have truly digested the move.
Data source: CoinBoss
UNITREE real-time quotes and open interest: coinboss.com/currencies/UNITREE
#数字资产 #市场分析 #机器人概念
After its price surged above $116, it pulled back to $114.3. In the past 24 hours, it’s still up 16.1%, with trading volume of $1.796 billion—one of the usual regulars on the gainers list.
But over on the derivatives side, it’s a completely different picture:
- Total open interest across the market is $13.28 million; it jumped 61.5% in 24 hours, with all 6 exchanges adding to positions
- Gate accounts for 50.8% alone; Bybit open interest increased 258.6% over 24 hours—funds are still flowing in
- The funding rates on 8 exchanges collectively flipped negative: Binance/Bybit/Aster, among others, saw their funding rates go straight to the limit at -2%, with shorts effectively paying at the cap
- In the last 24 hours, liquidations hit $1.284 million, with shorts accounting for 93%
Let’s translate what this means: spot buy pressure pushed the price up, while shorts have been stubbornly refusing to give up at the funding rate ceiling. At -2% per 8 hours, shorts have to pay a daily carry cost of 6% of their position. As long as the price doesn’t fall back below the breakout point, this batch of shorts is effectively paying the longs their wages every day.
Even more extreme: Bybit open interest has doubled 2.6x—new short positions are still queuing up, betting that this rally-and-pullback continues.
But on the 1-hour chart, there are already signs of change: in the last hour alone, $49,500 was liquidated, and longs made up 96.5%. Chasing longs are starting to get cleared out in smaller waves. Shorts held through the fiercest push, and the standoff between longs and shorts is beginning to loosen.
Whether UNITREE can launch a second attack depends on when open interest and funding rates normalize. Only when open interest falls and funding rates return to positive can the market be said to have truly digested the move.
Data source: CoinBoss
UNITREE real-time quotes and open interest: coinboss.com/currencies/UNITREE
#数字资产 #市场分析 #机器人概念