The first thing I saw this morning wasn’t the European or U.S. session—it was Korea.
Upbit’s morning report said $BARD had risen by about 50% overnight.
On Binance, spot was around 0.127, up about 54% over the day.
Perpetuals were around 0.125, with a trading volume of about 201 million U,
while spot volume was only about 12.15 million.
The open interest was even more striking.
The number of contracts held rose from about 25.9 million to 61.9 million in a day,
an increase of about 139%.
Notional value climbed from about 2.13 million to 7.58 million U.
At 4 a.m., shorts paid about 1.65% for that 4-hour period,
and at 8 a.m. they were still paying about 0.72%.
Long and short accounts were split roughly evenly.
I couldn’t find any new announcement from the project team today, so for now I’m assuming Korean capital and short sellers are locked in a battle.
$BARD #Lombard #Funding Rate
Personal opinion only; not investment advice
Upbit’s morning report said $BARD had risen by about 50% overnight.
On Binance, spot was around 0.127, up about 54% over the day.
Perpetuals were around 0.125, with a trading volume of about 201 million U,
while spot volume was only about 12.15 million.
The open interest was even more striking.
The number of contracts held rose from about 25.9 million to 61.9 million in a day,
an increase of about 139%.
Notional value climbed from about 2.13 million to 7.58 million U.
At 4 a.m., shorts paid about 1.65% for that 4-hour period,
and at 8 a.m. they were still paying about 0.72%.
Long and short accounts were split roughly evenly.
I couldn’t find any new announcement from the project team today, so for now I’m assuming Korean capital and short sellers are locked in a battle.
$BARD #Lombard #Funding Rate
Personal opinion only; not investment advice