As soon as the news broke that Huang had cheated, some people immediately went short on Nvidia on Binance @binance — truly, while others watch the drama, you make money.
Nvidia perpetuals on Binance saw $360 million in trading volume over the weekend, more than 11 times the previous day's volume. That accounted for 44% of the volume across 8 platforms, and Binance also ranked first in open interest.
In the past, if news broke over the weekend, all you could do was wait for the market to open on Monday. Now Binance is the first to offer a price, and more and more of the price discovery while US stock markets are closed is happening on Binance. Just like Binance co-CEO @heyibinance said: “One step ahead!”
This is also the weekend US stock buy-the-dip feature that Junijun launched a while back: if a stock drops or rises too much over the weekend, it gets bought first, then the position is closed when the market opens on Monday.
Of the 23 US stock perpetuals tracked, 16 fell 2%–4% below Friday's after-hours price this week and were bought. Closing the positions at Monday's close would have made a profit on 14 of them, with an average return of +6.1% per trade.
The only notable loss was Nvidia. With a bombshell like Huang's, it'll take time for the dip-buying to pay off. 🤣
Nvidia perpetuals on Binance saw $360 million in trading volume over the weekend, more than 11 times the previous day's volume. That accounted for 44% of the volume across 8 platforms, and Binance also ranked first in open interest.
In the past, if news broke over the weekend, all you could do was wait for the market to open on Monday. Now Binance is the first to offer a price, and more and more of the price discovery while US stock markets are closed is happening on Binance. Just like Binance co-CEO @heyibinance said: “One step ahead!”
This is also the weekend US stock buy-the-dip feature that Junijun launched a while back: if a stock drops or rises too much over the weekend, it gets bought first, then the position is closed when the market opens on Monday.
Of the 23 US stock perpetuals tracked, 16 fell 2%–4% below Friday's after-hours price this week and were bought. Closing the positions at Monday's close would have made a profit on 14 of them, with an average return of +6.1% per trade.
The only notable loss was Nvidia. With a bombshell like Huang's, it'll take time for the dip-buying to pay off. 🤣
