$SNDK fell another 14.6% 60 hours after the last review, yet at that time Sandisk signed 10 NBM agreements covering eight customers, with the minimum expected revenue calculated at 93.9 billion USD using the guaranteed price benchmark. Binance still fell 8.6% that day.
This 93.9 billion is a future guaranteed amount and does not mean how much revenue can be recognized in the next few quarters, so the market did not get lifted by this contract. Trading volume is increasing, but the selling pressure above has not been absorbed, and open interest shrank by 1.4% over 6 hours. For now, the market is treating it as just a paper number.
To reprice it, we first need to see whether spot prices remain stable, or whether Binance perpetual trading volume expands again and clears the sell orders above. Before that, the value of the contract has not yet been recognized by the market.
This 93.9 billion is a future guaranteed amount and does not mean how much revenue can be recognized in the next few quarters, so the market did not get lifted by this contract. Trading volume is increasing, but the selling pressure above has not been absorbed, and open interest shrank by 1.4% over 6 hours. For now, the market is treating it as just a paper number.
To reprice it, we first need to see whether spot prices remain stable, or whether Binance perpetual trading volume expands again and clears the sell orders above. Before that, the value of the contract has not yet been recognized by the market.