Yesterday, when I wrote about $AGT , I still thought the 0.0619 from November 3 was the ceiling. That very night, it was smashed through.
At 9 p.m., a single wick plunged to 0.0403. Two hours later, the price surged to 0.0774, then stayed stuck between 0.070 and 0.080 for the next 13 hours, peaking at 0.0830.
▪️ Contract open interest (in coins): 368 million → 574 million (+56%)
▪️ Long/short account ratio: 1.75 → 0.33; there are about 3 times as many accounts opening shorts as longs
▪️ Funding rate is still positive, at about 0.08% every 4 hours
Shorts have the edge by number of accounts, but longs are the ones paying funding. My take is that there are fewer long accounts, but their positions are heavier. About 164 million coins are also set to unlock on November 16. Before then, will this 3-to-1 gap in account numbers narrow first?
#AGT #ContractWatch
At 9 p.m., a single wick plunged to 0.0403. Two hours later, the price surged to 0.0774, then stayed stuck between 0.070 and 0.080 for the next 13 hours, peaking at 0.0830.
▪️ Contract open interest (in coins): 368 million → 574 million (+56%)
▪️ Long/short account ratio: 1.75 → 0.33; there are about 3 times as many accounts opening shorts as longs
▪️ Funding rate is still positive, at about 0.08% every 4 hours
Shorts have the edge by number of accounts, but longs are the ones paying funding. My take is that there are fewer long accounts, but their positions are heavier. About 164 million coins are also set to unlock on November 16. Before then, will this 3-to-1 gap in account numbers narrow first?
#AGT #ContractWatch