This morning’s top 3 gainers are now being reconciled one by one based on their initial listing order, and all three contracts have cooled off.

US cooled off.
After listing, the price retraced 31.27%, and open interest fell from 30.3934 million to 16.4230 million, a drop of 45.97%, showing obvious capital outflow.
The active buy/sell ratio declined from 1.09 to 1.04.

MAGIC cooled off.
After listing, the price retraced 22.34%, and open interest decreased by 16.90% to 16.3106 million.
The funding rate fell from 0.005% to -0.3501%, and the active buy/sell ratio also dropped from 1.04 to 0.97.

KAIA cooled off.
After listing, the price retraced 8.01%, and open interest fell by 11.73% to 12.9921 million.
The funding rate further declined from -0.146% to -0.2409%, and the active buy/sell ratio fell from 1.07 to 1.02.
This evening, the key focus is whether open interest can stop falling and whether the active buy/sell ratio can strengthen again; all three have already moved away from their initial strong listing phase, and the risk of a pullback from elevated levels still needs attention.

#US #MAGIC #KAIA
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Contract data organized with the assistance of Claude Fable 5, for informational reference only. Please verify independently.