$OGN surged 25% in a single day, yet the shorts are still stubbornly holding on, effectively hanging themselves with an extreme annualized funding rate of 525%.
A lot of people haven’t caught on yet: the team has already bought back nearly 15% of the tokens using protocol revenue, and secondary-market liquidity has been drained dry. Now, stubbornly shorting while paying a funding rate of -0.24%, they’re paying the longs every minute.
This is an obvious short-squeeze trap. The buybacks have locked up the supply, leaving shorts as the only fuel. Until the shorts get completely wiped out, anyone who gets off this train will miss the ride.
#比特币突破8.4万美元 #OGN $OGN
#GTC $GTC
👇
A lot of people haven’t caught on yet: the team has already bought back nearly 15% of the tokens using protocol revenue, and secondary-market liquidity has been drained dry. Now, stubbornly shorting while paying a funding rate of -0.24%, they’re paying the longs every minute.
This is an obvious short-squeeze trap. The buybacks have locked up the supply, leaving shorts as the only fuel. Until the shorts get completely wiped out, anyone who gets off this train will miss the ride.
#比特币突破8.4万美元 #OGN $OGN
#GTC $GTC
👇