$IOTX funding rate: -0.352%/8h, annualized -385.6%. Shorts pay longs every 8 hours, and the price is still rising.
· Open interest up 46.7% in 24h, to $3.04 million
· Open interest/market cap: 7.4%; futures volume is 8.9x spot volume
· Long/short account ratio: 2.3, up 7.6% in 24h
IoTeX is a public blockchain for the Internet of Things and DePIN. Put simply, it brings real-world devices and data on-chain, where AI and apps can use them.
The price is rising while the funding rate is being pushed further into negative territory. That suggests new shorts are piling in as the price climbs. The 2.3 account ratio also shows that long accounts outnumber short accounts, so there are fewer shorts with larger positions—big players are leaning on the price. Open interest keeps climbing as the price is pushed up. Shorts either have to tough it out and pay funding, or get stopped out by a sharp wick. If the price can’t keep pushing higher, longs won’t hold up for long either.
The token is almost fully circulating, with 94.4% already out there. Market cap is $40.89 million and FDV is $43.31 million, so there’s very little unlock pressure. But the market is small, and a single surge in open interest can skew the price, so both sides should leave themselves room to maneuver.
#IOTX #资金费率 #Wildcoin
· Open interest up 46.7% in 24h, to $3.04 million
· Open interest/market cap: 7.4%; futures volume is 8.9x spot volume
· Long/short account ratio: 2.3, up 7.6% in 24h
IoTeX is a public blockchain for the Internet of Things and DePIN. Put simply, it brings real-world devices and data on-chain, where AI and apps can use them.
The price is rising while the funding rate is being pushed further into negative territory. That suggests new shorts are piling in as the price climbs. The 2.3 account ratio also shows that long accounts outnumber short accounts, so there are fewer shorts with larger positions—big players are leaning on the price. Open interest keeps climbing as the price is pushed up. Shorts either have to tough it out and pay funding, or get stopped out by a sharp wick. If the price can’t keep pushing higher, longs won’t hold up for long either.
The token is almost fully circulating, with 94.4% already out there. Market cap is $40.89 million and FDV is $43.31 million, so there’s very little unlock pressure. But the market is small, and a single surge in open interest can skew the price, so both sides should leave themselves room to maneuver.
#IOTX #资金费率 #Wildcoin