$BE 24 hours, it rose 9.37%. I took a look at the data, and this move was driven purely by spot. The funding rate stayed at 0, which means the futures side had not priced it in at all—there was no money flowing from longs to shorts, and no pressure from shorts holding positions. The price discovery process was very clean.
Open interest was 40,186 contracts. Compared with the 24-hour trading volume of 51.66 million, this OI level is not high. In plain terms, the derivatives market did not expand along with the price. This rally was not pushed up by leveraged capital; it was driven entirely by real spot buying power.
Trading tags: #BinanceFutures #TradFi #USDⓈM #BE #BEUSDT $BE
Open interest was 40,186 contracts. Compared with the 24-hour trading volume of 51.66 million, this OI level is not high. In plain terms, the derivatives market did not expand along with the price. This rally was not pushed up by leveraged capital; it was driven entirely by real spot buying power.
Trading tags: #BinanceFutures #TradFi #USDⓈM #BE #BEUSDT $BE