Conclusion first: This round for PROM wasn’t pushed up by a squeeze of short sellers. It was bought up directly by new money.
Up 44.8% in one day; from 3.341 it surged to 4.975, with the current price at 4.937.
Within 24 hours, $2.99 million was liquidated; short sellers accounted for 2.26 million, or 75%. The position could be held for one day, increasing by 134%, from 15 million to 35.42 million. The newly added amount was far greater than what was liquidated. The shorts getting wiped out was just incidental.
The branch offices are even clearer. Gate increased its holdings by 333%, MEXC by 211%, KuCoin by 154%, and Binance by 137%—with Binance still accounting for 60%. Everything increased across the board; not a single one withdrew.
Liquidations were concentrated on Binance: 2.54 million, or 85%. The largest single order was only 25.8 thousand.
On Binance spot, trading volume in one day was 22.03 million, while the derivatives market was 420 million—19 times higher.
$PROM $BTC
The increase you dare to take when new money comes in?
Check in real time: https://www.coinboss.com/currencies/PROM