FLOCK is going up, but the short positions are getting more and more squeezed.
In the past 6 hours, Binance perpetuals moved from 0.0635 to 0.0690, touching the day’s high. The price rose 6% in a day; Binance and OKX quotes are basically identical.
The fee rate is moving in the opposite direction. Binance’s consecutive 10 rounds are all negative; the next one is estimated to be -0.139%. OKX is also -0.140%. It settles once every 4 hours—based on these numbers, going short for one day means you have to pay an extra 0.8%.
The shorts haven’t even run yet. Binance’s shorting account still has 55% left. Only $4,056 was liquidated across the whole network in a day. As the price is pushed upward, the shorts are still bleeding money and hard-holding.
How long do you think the shorts’ money can last before they run out?
$FLOCK
Live view: https://www.coinboss.com/zh/funding-rate/FLOCK