$SOPH funding rate: -0.151%/4h, annualized -330%. Shorts are paying longs a toll every period, and in previous periods the rate even plunged further.
· Open interest: $3.47 million, up just +1.8% over 24h
· Open interest/market cap: 43.4%, suggesting the perpetual market is driving price discovery
· Perpetual trading volume is 8.8 times spot volume
· Long/short account ratio: 1.06, so accounts are almost evenly split
Sophon is a consumer-focused ZK Rollup aiming to bring everyday products like games, social platforms, and prediction markets on-chain, then use zkTLS to turn users’ internet data into assets they control. It’s a token featured in Binance HODLer Airdrops.
Open interest hasn’t risen, yet the funding rate is deeply negative. That suggests existing shorts are adding to their positions or stubbornly holding on, with no new capital entering. Shorts are profiting from the decline while paying funding, which is no easy trade. The market cap is also small, so a few large orders could produce a sharp spike. Another possibility is that market makers are earning funding on their hedged positions—in which case, there’s no fuel for a short squeeze.
Down 57.0% over the past month, the trend has been consistently downward. The circulating supply is 49.9%, and the FDV is twice the market cap, meaning the remaining half of the tokens still has to be released gradually. Any rebound looks more like a short-term move than the start of a sustained trend.
#SOPH #资金费率 #WildCoin
· Open interest: $3.47 million, up just +1.8% over 24h
· Open interest/market cap: 43.4%, suggesting the perpetual market is driving price discovery
· Perpetual trading volume is 8.8 times spot volume
· Long/short account ratio: 1.06, so accounts are almost evenly split
Sophon is a consumer-focused ZK Rollup aiming to bring everyday products like games, social platforms, and prediction markets on-chain, then use zkTLS to turn users’ internet data into assets they control. It’s a token featured in Binance HODLer Airdrops.
Open interest hasn’t risen, yet the funding rate is deeply negative. That suggests existing shorts are adding to their positions or stubbornly holding on, with no new capital entering. Shorts are profiting from the decline while paying funding, which is no easy trade. The market cap is also small, so a few large orders could produce a sharp spike. Another possibility is that market makers are earning funding on their hedged positions—in which case, there’s no fuel for a short squeeze.
Down 57.0% over the past month, the trend has been consistently downward. The circulating supply is 49.9%, and the FDV is twice the market cap, meaning the remaining half of the tokens still has to be released gradually. Any rebound looks more like a short-term move than the start of a sustained trend.
#SOPH #资金费率 #WildCoin