🚨 Funding ADA -56%/year: are shorts in danger of self-igniting?
Cardano ($ADA ) is showing record negative funding of about -56%/year. That means shorts are having to pay very high fees to longs. Open Interest is up to about ~$38.59M, while the price of ADA has dropped as much as 9.4% over the past 24 hours.
The liquidation pressure on shorts is extremely high. Even a slight price pullback could trigger a massive short squeeze. Which side will fall first?
If it were you, which side would you stand with?
Reference information only, not investment advice. DYOR.
#ADA
Cardano ($ADA ) is showing record negative funding of about -56%/year. That means shorts are having to pay very high fees to longs. Open Interest is up to about ~$38.59M, while the price of ADA has dropped as much as 9.4% over the past 24 hours.
The liquidation pressure on shorts is extremely high. Even a slight price pullback could trigger a massive short squeeze. Which side will fall first?
If it were you, which side would you stand with?
Reference information only, not investment advice. DYOR.
#ADA