Conclusion up front: TAO is up 5.5% in a day, with open interest increasing 4%. But in liquidations, shorts are 8.7 times the longs—people who chase the downside are the first ones hauled away.
Current price is 305.6. Over the past 24 hours, the high was 310.5 and the low was 287.8. Both Binance and OKX are up by about 5.5%. As the price moves higher, leveraged capital is also piling in.
All-network TAO holdings total $530 million, up 3.96% over the past 24 hours. Binance holdings are 81.28 million, accounting for 15%, while OKX accounts for 4.7%. MEXC has the highest share, reaching 25.7%.
The funding rate isn’t that scorching: Binance and Bybit are both in the 0.005% tier; when converted by each platform’s settlement cycle, it comes to an annualized rate of about 11%. Longs have to pay, but it’s nowhere near the level of extreme overcrowding.
In 24 hours, only $98.7 million was cleared; the shorts cleared $88.5 million, longs cleared $10.2 million—it's very clear: during an uptrend, the leverage chasing shorts is more likely to get liquidated first.
$TAO $BTC
If TAO continues to rise, will the shorts pile back in again?
View in real time: https://www.coinboss.com/currencies/TAO