Short sellers are still paying longs a funding rate of -0.9181%, yet $INIT is surging against the shorts, topping the gainers chart over the past 7 days with a massive +113.89% rally 😳. $ONE , in second place, is up +74.84%, while $CYBER is up +16.26%.
The futures funding rate is negative, which means shorts are paying longs—the short side is extremely crowded. Its 24-hour trading volume has surged to 4.4 times its average daily volume over the past 7 days. Meanwhile, BTC fell -1.19% over the same 24 hours. The broader market is down, but this one is ripping higher—a clear short squeeze driven by traders in the market.
It’s now just 7.0% below its 30-day high of 0.3319. Anyone still holding a position in it?
The futures funding rate is negative, which means shorts are paying longs—the short side is extremely crowded. Its 24-hour trading volume has surged to 4.4 times its average daily volume over the past 7 days. Meanwhile, BTC fell -1.19% over the same 24 hours. The broader market is down, but this one is ripping higher—a clear short squeeze driven by traders in the market.
It’s now just 7.0% below its 30-day high of 0.3319. Anyone still holding a position in it?
