Impressive! In one day, the VELVET contract surged with the second-highest increase: +56.9%!
OI climbed from $4.52M to $7.09M, up 57%. It looks pretty fierce. But the big player long/short ratio was cut from 3.31 down to 2.01—pulling price up while withdrawing. Over 7 hours, the big players reduced their long position ratio from 76% to 66%, while retail traders kept coming in.
On SAND: 24h spot is up +52.7%. Contract OI rose from 23.78M to 27.12M, up 14%. However, it’s different from the day when big players flipped fully bearish—this time the big players’ long/short ratio actually rose from 1.09 to 1.24. It feels a bit like fresh long positions stepping in after a shakeout to pick up.
GALA also lagged then caught up, adding +17.6%, and the afterglow of the metaverse sector is still there.
MAGMA remains about 60% short—big players at 0.62, with retail traders stubbornly holding through the main upswing. Same plot as last time—be cautious.
#Uptober #metaverse
$VELVET $SAND $GALA
OI climbed from $4.52M to $7.09M, up 57%. It looks pretty fierce. But the big player long/short ratio was cut from 3.31 down to 2.01—pulling price up while withdrawing. Over 7 hours, the big players reduced their long position ratio from 76% to 66%, while retail traders kept coming in.
On SAND: 24h spot is up +52.7%. Contract OI rose from 23.78M to 27.12M, up 14%. However, it’s different from the day when big players flipped fully bearish—this time the big players’ long/short ratio actually rose from 1.09 to 1.24. It feels a bit like fresh long positions stepping in after a shakeout to pick up.
GALA also lagged then caught up, adding +17.6%, and the afterglow of the metaverse sector is still there.
MAGMA remains about 60% short—big players at 0.62, with retail traders stubbornly holding through the main upswing. Same plot as last time—be cautious.
#Uptober #metaverse
$VELVET $SAND $GALA