Who remembers when the 24-hour low was still at 0.00251?
JCT perpetuals are now around 0.0046, up about 59% in a day 😂
It touched a high of 0.00475, with about 168 million U in trading volume,
and the price range nearly doubled.
The surprising thing is that the number of open contracts hasn't gone crazy,
shrinking from about 4.00 billion to 3.73 billion,
while their value rose from about 11.6 million to 13.3 million U.
It looks more like the price has pushed up the value of existing positions,
rather than fresh money pouring in to open more positions.
Long accounts are at about 58%, and large traders are around the same.
Funding rates were mostly just 0.005% during the day,
but the next period's forecast has already reached about 0.077%—longs are starting to pay.
JCT isn't listed on Binance spot. Any new updates from the project team today? Couldn't find any.
These sharp rallies driven purely by perpetuals can reverse just as fast 🤡
$JCT #Janction #ContractMarketMoves
Personal opinion only; not investment advice
JCT perpetuals are now around 0.0046, up about 59% in a day 😂
It touched a high of 0.00475, with about 168 million U in trading volume,
and the price range nearly doubled.
The surprising thing is that the number of open contracts hasn't gone crazy,
shrinking from about 4.00 billion to 3.73 billion,
while their value rose from about 11.6 million to 13.3 million U.
It looks more like the price has pushed up the value of existing positions,
rather than fresh money pouring in to open more positions.
Long accounts are at about 58%, and large traders are around the same.
Funding rates were mostly just 0.005% during the day,
but the next period's forecast has already reached about 0.077%—longs are starting to pay.
JCT isn't listed on Binance spot. Any new updates from the project team today? Couldn't find any.
These sharp rallies driven purely by perpetuals can reverse just as fast 🤡
$JCT #Janction #ContractMarketMoves
Personal opinion only; not investment advice