$APR Rank 1 APR -11.51%｜5 contracts listed｜Current price 0.096
I’m not rushing to look for reasons. First, here are a few signals I’m watching:
First, the funding rate is still positive at +0.005%. In other words, despite the price getting hammered like this, bulls haven’t reached the point of collectively paying to hold on. If it turns negative, that’s when I’ll be more interested.
Second, only 5 contracts are on the losers list, and crowding is also marked as “low.” That suggests this is more likely an issue specific to this asset than a market-wide deleveraging across perpetuals. Those two scenarios call for completely different responses.
Third, I haven’t found any news that directly explains it for now, so I won’t make up a story. I’ll wait for volume and the funding rate to provide answers.
Being at the top of the losers list doesn’t mean it’s cheap. I’ll keep it on my watchlist and see whether it can stop the decline.
I’m not rushing to look for reasons. First, here are a few signals I’m watching:
First, the funding rate is still positive at +0.005%. In other words, despite the price getting hammered like this, bulls haven’t reached the point of collectively paying to hold on. If it turns negative, that’s when I’ll be more interested.
Second, only 5 contracts are on the losers list, and crowding is also marked as “low.” That suggests this is more likely an issue specific to this asset than a market-wide deleveraging across perpetuals. Those two scenarios call for completely different responses.
Third, I haven’t found any news that directly explains it for now, so I won’t make up a story. I’ll wait for volume and the funding rate to provide answers.
Being at the top of the losers list doesn’t mean it’s cheap. I’ll keep it on my watchlist and see whether it can stop the decline.