KSM is up 15%, yet the ones who followed in are actually the shorts.
On Binance, in one day KSM was pushed from 4.63 to around 5.35—within less than 1% of the high at 5.367.
In the past 4 hours, Binance positions increased from 400,000 coins to 485,000 coins—up by 20%. In the same period, long accounts dropped from 73% to 67.4%. In the new positions, more of them are betting on a decline.
Paying to take a downside position. Binance estimated next futures funding rate is -0.049%, annualized over 50%—shorts pay longs. OKX estimates -0.05% and settles every 4 hours, annualized over 100%.
In 24 hours, KSM only “exploded” by $27,000. These shorts haven’t been touched yet.
If you push it higher, these short positions become the fuel. Will you follow the shorts?
$KSM
View in real time: https://www.coinboss.com/funding-rate