HYPE long positions are placing buy orders for crowded positions: Binance funding rate is 0.005% every 8 hours, which annualizes to about 54.8%; OKX is higher at 0.01%, annualizing to about 109.5%. Both sides are charging longs, indicating that long positions are clearly packed together.
The price doesn’t need to be chased for now—first see whether the funding rate can fall. If the rally doesn’t continue, when crowded longs unwind their positions, the pullback will likely be faster than a normal consolidation. If the funding rate keeps rising, the shorts may actually be waiting for a better entry cost.
Will you keep chasing longs, or wait for the funding rate to drop?
$HYPE
Check in real time: https://www.coinboss.com/funding-rate