JCT faces a massive unlock of 1.18 billion tokens the day after tomorrow, 11/10! Janction ($JCT ) skyrockets 282% on $830 million in volume—here’s why!
Janction (JCT) staged an extremely explosive rally today, surging 282.45% in a single day to $0.010005 (briefly touching an intraday high of $0.0140). Its 24-hour trading volume astonishingly topped $830 million, ranking first across the board!
Here’s the truth behind the extreme imbalance in derivatives markets and the token unlock:
1. Extreme funding rates and liquidations: Funding rates soared to around +0.48% per interval (longs are paying extremely high holding costs). Short liquidations totaled as much as $6.9 million over 24 hours, compared with $2.1 million for longs; large traders’ long positions accounted for 56%;
2. Major unlock countdown: On-chain data and calendars show that approximately 1.18 billion tokens are set to unlock on November 10 (the day after tomorrow)—about 2.35% of the total supply, worth approximately $13 million. Although there’s related news about Binance Alpha, the contract has already been trading.
Conclusion: Longs are paying sky-high interest to force their positions higher, while a major unlock and potential selling pressure are just around the corner. $0.00500 is the key support zone and line in the sand from the past few days. With funding rates at extreme levels, absolutely do not hold positions overnight. Beware of a sell-off cascade on unlock day!
#JCT #Janction
$JCT
Janction (JCT) staged an extremely explosive rally today, surging 282.45% in a single day to $0.010005 (briefly touching an intraday high of $0.0140). Its 24-hour trading volume astonishingly topped $830 million, ranking first across the board!
Here’s the truth behind the extreme imbalance in derivatives markets and the token unlock:
1. Extreme funding rates and liquidations: Funding rates soared to around +0.48% per interval (longs are paying extremely high holding costs). Short liquidations totaled as much as $6.9 million over 24 hours, compared with $2.1 million for longs; large traders’ long positions accounted for 56%;
2. Major unlock countdown: On-chain data and calendars show that approximately 1.18 billion tokens are set to unlock on November 10 (the day after tomorrow)—about 2.35% of the total supply, worth approximately $13 million. Although there’s related news about Binance Alpha, the contract has already been trading.
Conclusion: Longs are paying sky-high interest to force their positions higher, while a major unlock and potential selling pressure are just around the corner. $0.00500 is the key support zone and line in the sand from the past few days. With funding rates at extreme levels, absolutely do not hold positions overnight. Beware of a sell-off cascade on unlock day!
#JCT #Janction
$JCT