$IRYS contracts up 61.1%, pulling back from a high of +77%
When I posted this morning, it had just climbed back above the 40% mark (+42.4%). It briefly surged to +77% at noon (11:00), and has now pulled back to +61.1%—still the only one on the contracts leaderboard above 60%.
24-hour contract trading volume across the market is $494 million, with $35.39 million in open interest. The funding rate is 0.005% (settled every 4 hours); market-wide liquidations over 24 hours totaled $1.27 million across 2,069 traders. Long chasers definitely got shaken out.
I’ve been watching all morning, and looking at the leaderboard figures together: gains have narrowed from their peak, volume is still holding high, and there have been plenty of liquidations, but the funding rate hasn’t gone to extremes. It feels more like short-term money taking profits in stages, while shorts haven’t been squeezed into a corner. Was this a shakeout before the next leg up, or longs taking profits? Which side are you on?
$IRYS
When I posted this morning, it had just climbed back above the 40% mark (+42.4%). It briefly surged to +77% at noon (11:00), and has now pulled back to +61.1%—still the only one on the contracts leaderboard above 60%.
24-hour contract trading volume across the market is $494 million, with $35.39 million in open interest. The funding rate is 0.005% (settled every 4 hours); market-wide liquidations over 24 hours totaled $1.27 million across 2,069 traders. Long chasers definitely got shaken out.
I’ve been watching all morning, and looking at the leaderboard figures together: gains have narrowed from their peak, volume is still holding high, and there have been plenty of liquidations, but the funding rate hasn’t gone to extremes. It feels more like short-term money taking profits in stages, while shorts haven’t been squeezed into a corner. Was this a shakeout before the next leg up, or longs taking profits? Which side are you on?
$IRYS