The broader market is getting hammered today, but open interest on the $CYBER contract has climbed from about 5.35 million tokens to around 18.8 million.
$BTC spot is down about 6%, and $ETH is down about 8%. CYBER spot is still around 0.344, up about 36% over 24 hours, after briefly touching 0.377. I looked around but couldn’t find any announcements or partnership news that would support this move.
Where the money is coming from is clearer: Binance perpetual futures volume is about 84 million U, while spot volume is only about 8.1 million. Open interest has risen from about 5.35 million tokens around noon yesterday to about 18.8 million around noon today—roughly 3.5 times the original amount. The funding rate has turned negative, so shorts are paying longs.
I’m leaning bullish. If open interest can grow to more than three times its original size on a day when the market is being hammered, that can’t be explained by spot volume alone. If open interest starts falling and the price gives back the morning’s gains, I’ll consider this a case of overheated leverage.
#山寨行情 #合约数据
$BTC spot is down about 6%, and $ETH is down about 8%. CYBER spot is still around 0.344, up about 36% over 24 hours, after briefly touching 0.377. I looked around but couldn’t find any announcements or partnership news that would support this move.
Where the money is coming from is clearer: Binance perpetual futures volume is about 84 million U, while spot volume is only about 8.1 million. Open interest has risen from about 5.35 million tokens around noon yesterday to about 18.8 million around noon today—roughly 3.5 times the original amount. The funding rate has turned negative, so shorts are paying longs.
I’m leaning bullish. If open interest can grow to more than three times its original size on a day when the market is being hammered, that can’t be explained by spot volume alone. If open interest starts falling and the price gives back the morning’s gains, I’ll consider this a case of overheated leverage.
#山寨行情 #合约数据
