Down 2.11% in 24 hours, funding rate at zero, and $PAYP ’s microstructure is boringly clean. Longs aren’t opening aggressively, and shorts aren’t piling in to dump it either. A funding rate at zero is often the tail end of the previous round of long liquidation; open interest at 21,260 means positions haven’t decreased, just turned over. With the price now at 16.7, buy-side support is weak, waiting for some excuse from a rebound in macro sentiment. The counterargument is that if U.S. earnings season blows up, on-chain safe-haven funds may temporarily sell illiquid contracts.

Trading tag: #TradFi #链上美股 #PAYP

Where do you think this line of reasoning is most likely wrong?