This wave of TRB is about adding leverage, not a short squeeze.
Binance quoted at $20.40, up 5.5% in a day, with a high of $21.42. The price didn’t move that fast, but total open interest across the whole network rose from about $30.6 million to $38.72 million—up 26%.
Most of the new money goes to MEXC: it accounts for 15.85 million, or 40% of the entire network. In one day, it increased by 57.6%. By number of coins, Binance increased from 283,000 to 307,000—up 8.5%.
The position size came from people entering voluntarily, not from being forced out. In 24 hours, TRB only liquidated $456,000 in total, across 94 trades.
The direction is consistent: Binance’s long accounts rose from 64% to 67%, and in large holders’ positions, 79.4% are betting on longs. The fee rate has been 0.005% per 4 hours for 7 straight rounds—longs are squeezing, but they haven’t paid the high price yet.
The more positions you stack, the higher you go—yet bankruptcies are still so few. Once the price drops back below 20, this batch of new long orders will be the fuel for the next round of liquidations.
Will you add more along with it, or wait for a pullback before deciding?
Check in real time: https://www.coinboss.com/zh/open-interest/TRB