Bitcoin is flat at 67,150, playing dead, while AKE nearly quadrupled in a day:
Up 382% in 24 hours, from 0.0026 to 0.0129, with $530 million in trading volume; futures open interest jumped 246% in a day to $140 million. Funding is -0.18% every 4 hours, so shorts are paying longs. $11.24 million was liquidated in 24 hours, 77% of it from shorts.
But don't get carried away: it's still down 55% over 30 days, 91% below its previous high of 0.147, and only 23% of the total supply is in circulation, with tokens unlocking on the 21st of every month.
A Shorts have been squeezed hard; chasing the rally will just fuel the next wave
B 382% is the top; once the unlock hits, it'll give it all back
$AKE $BTC
#Akedo #Bitcoin
Up 382% in 24 hours, from 0.0026 to 0.0129, with $530 million in trading volume; futures open interest jumped 246% in a day to $140 million. Funding is -0.18% every 4 hours, so shorts are paying longs. $11.24 million was liquidated in 24 hours, 77% of it from shorts.
But don't get carried away: it's still down 55% over 30 days, 91% below its previous high of 0.147, and only 23% of the total supply is in circulation, with tokens unlocking on the 21st of every month.
A Shorts have been squeezed hard; chasing the rally will just fuel the next wave
B 382% is the top; once the unlock hits, it'll give it all back
$AKE $BTC
#Akedo #Bitcoin
