It dumped on 380 million in trading volume, yet shorts still occupy 70% of the seats 😂
$AGT was still at 0.087 during the day,
now it’s around 0.059, down roughly 21% in a day.
There’s no spot market on Binance; it’s all futures contracts driving the sell-off.
Open interest is shrinking too: contract count fell about 15% in a day,
and notional value dropped from around 43.9 million to 30 million U.
But accounts are still roughly 71% short.
The funding rate is behaving for now: this morning’s interval was about 0.009% every 4 hours.
The unlock calendar says more supply is coming early tomorrow morning Beijing time,
but I couldn’t find an explanation from the project team itself.
Best to watch this pullback from a distance 🤡
$AGT #Alaya #FuturesAnomaly
Personal opinion only; not investment advice
$AGT was still at 0.087 during the day,
now it’s around 0.059, down roughly 21% in a day.
There’s no spot market on Binance; it’s all futures contracts driving the sell-off.
Open interest is shrinking too: contract count fell about 15% in a day,
and notional value dropped from around 43.9 million to 30 million U.
But accounts are still roughly 71% short.
The funding rate is behaving for now: this morning’s interval was about 0.009% every 4 hours.
The unlock calendar says more supply is coming early tomorrow morning Beijing time,
but I couldn’t find an explanation from the project team itself.
Best to watch this pullback from a distance 🤡
$AGT #Alaya #FuturesAnomaly
Personal opinion only; not investment advice