$ORDER 3 hours, nearly tripled. Who's paying?
ORDER perpetuals are up 197% over 24 hours, now trading at 0.0968, with roughly 220 million U in volume.
At 3 p.m. Beijing time, it was still around 0.035. Then it surged for several consecutive one-hour candles, reaching a high of 0.1013.
The funding rate is -1.12%, even more negative than BIRB's yesterday. Shorts are paying a hefty fee to hold their positions.
I couldn't find any clear news, and posts on X are mostly calls to buy.
My take: when a move is driven by a short squeeze with no clear news, the pullback is often just as fast. I'm watching, not chasing.
Do you think it can hold above the round-number level of 0.1 tonight?
#TrendingContracts
The above does not constitute investment advice
ORDER perpetuals are up 197% over 24 hours, now trading at 0.0968, with roughly 220 million U in volume.
At 3 p.m. Beijing time, it was still around 0.035. Then it surged for several consecutive one-hour candles, reaching a high of 0.1013.
The funding rate is -1.12%, even more negative than BIRB's yesterday. Shorts are paying a hefty fee to hold their positions.
I couldn't find any clear news, and posts on X are mostly calls to buy.
My take: when a move is driven by a short squeeze with no clear news, the pullback is often just as fast. I'm watching, not chasing.
Do you think it can hold above the round-number level of 0.1 tonight?
#TrendingContracts
The above does not constitute investment advice