$Q As of 08:40 ICT on 18/10: Binance perp is up ~69%/24h, with volume of ~USD 944 million, but token OI is down ~41% from its peak.
• Price: ~0.030 (12/10) → ~0.116 (~3.9×); 24h high ~0.142, with a sharp dip to ~0.096 at 08:00. Q (Quack AI) is only available on Binance Alpha and perp, with no spot pair yet; Alpha volume is ~USD 47 million, while perp volume is ~20× higher.
• OI: ~609 million tokens (22:00 ICT 17/10) → ~359 million (~USD 42 million), while the price is still ~39% higher than it was then.
• 4h funding reversed: positive throughout 17/10, then −0.12% (03:00) and −0.21% (07:00 ICT); the 11:00 period is forecast at ~−0.26%. ~68% of accounts are short, while top traders are ~55% long by position.
• I haven't seen any listing news or new usage data from Quack AI accompanying this move.
Take: I see OI contracting sharply while funding gets increasingly negative, so in my view leverage is coming out, but the remaining shorts are paying increasingly steep fees. The price could swing sharply around the 11:00 ICT funding period.
Not financial advice.
• Price: ~0.030 (12/10) → ~0.116 (~3.9×); 24h high ~0.142, with a sharp dip to ~0.096 at 08:00. Q (Quack AI) is only available on Binance Alpha and perp, with no spot pair yet; Alpha volume is ~USD 47 million, while perp volume is ~20× higher.
• OI: ~609 million tokens (22:00 ICT 17/10) → ~359 million (~USD 42 million), while the price is still ~39% higher than it was then.
• 4h funding reversed: positive throughout 17/10, then −0.12% (03:00) and −0.21% (07:00 ICT); the 11:00 period is forecast at ~−0.26%. ~68% of accounts are short, while top traders are ~55% long by position.
• I haven't seen any listing news or new usage data from Quack AI accompanying this move.
Take: I see OI contracting sharply while funding gets increasingly negative, so in my view leverage is coming out, but the remaining shorts are paying increasingly steep fees. The price could swing sharply around the 11:00 ICT funding period.
Not financial advice.