After DASH surged to a high of 47.83 today and turned around, the current price is 39.34. In the past 24 hours it is still up 11.76%, but it has already retraced nearly 18% from the high.
What’s interesting is that open interest hasn’t cooled off: the entire market’s OI is $63.53 million, and in the past 24 hours it’s still up 19.71%. Binance’s share is 28.69% (+31.42% over 24h), KuCoin is 28.01% (+15.77%), and these two almost split the market evenly. MEXC is 14.49%, with the strongest single-day chase at +19.89%.
Funding rates at most exchanges are around 0.0001, with no signs of overheating. Hyperliquid is even lower at 0.0000125.
The liquidation structure is the key: total liquidations in the past 24 hours are $2.39 million, with longs accounting for 78.5%. Narrowing to the 12-hour window, the long proportion rises to 91.3%. In the most recent hour, it’s even more extreme: of the $0.289 million liquidated, longs made up 99.87%—basically an all-long situation.
This combination is unusual. Rising OI suggests real capital is being added, but when the price fell back from the high, almost all the liquidations were longs. That implies a group chased price near 47 and is now paying the bill for that pursuit. The market isn’t retreating as the price drops—instead, more people keep catching the falling knife the lower it goes.
Check in real time: https://www.coinboss.com/currencies/DASH
What’s interesting is that open interest hasn’t cooled off: the entire market’s OI is $63.53 million, and in the past 24 hours it’s still up 19.71%. Binance’s share is 28.69% (+31.42% over 24h), KuCoin is 28.01% (+15.77%), and these two almost split the market evenly. MEXC is 14.49%, with the strongest single-day chase at +19.89%.
Funding rates at most exchanges are around 0.0001, with no signs of overheating. Hyperliquid is even lower at 0.0000125.
The liquidation structure is the key: total liquidations in the past 24 hours are $2.39 million, with longs accounting for 78.5%. Narrowing to the 12-hour window, the long proportion rises to 91.3%. In the most recent hour, it’s even more extreme: of the $0.289 million liquidated, longs made up 99.87%—basically an all-long situation.
This combination is unusual. Rising OI suggests real capital is being added, but when the price fell back from the high, almost all the liquidations were longs. That implies a group chased price near 47 and is now paying the bill for that pursuit. The market isn’t retreating as the price drops—instead, more people keep catching the falling knife the lower it goes.
Check in real time: https://www.coinboss.com/currencies/DASH
