$BULLA Funding rate +0.150%/4h, annualized +329%. Price halved in seven days, yet longs are still rushing to pay
· Open interest +40.4% in 24h, reaching $5.92 million
· Open interest/market cap: 54.5%, suggesting futures are largely driving price discovery
· Long/short ratio: 1.5, with more long positions
BULLA is a Hasbulla-themed BNB Chain meme coin that uses celebrity fandom as an entry point to Web3, with tasks and community events as its main activities.
Open interest is rising even as the price falls, and funding rates keep climbing. This suggests traders are using leverage to keep buying the dip, leaving longs increasingly exposed. One more leg down could trigger cascading liquidations. Conversely, a short squeeze could also spark a sharp rebound. But with funding rates this high, longs are slowly being worn down by holding costs alone.
39.8% of the supply is circulating, with an FDV of $27.28 million. Another 60% of the tokens have yet to enter circulation. I’m inclined to think this is a battle among futures traders; there’s little sign of a fundamental recovery. If you want to participate, keep your position small—either side could get liquidated.
#BULLA #资金费率 #DegenCoin
· Open interest +40.4% in 24h, reaching $5.92 million
· Open interest/market cap: 54.5%, suggesting futures are largely driving price discovery
· Long/short ratio: 1.5, with more long positions
BULLA is a Hasbulla-themed BNB Chain meme coin that uses celebrity fandom as an entry point to Web3, with tasks and community events as its main activities.
Open interest is rising even as the price falls, and funding rates keep climbing. This suggests traders are using leverage to keep buying the dip, leaving longs increasingly exposed. One more leg down could trigger cascading liquidations. Conversely, a short squeeze could also spark a sharp rebound. But with funding rates this high, longs are slowly being worn down by holding costs alone.
39.8% of the supply is circulating, with an FDV of $27.28 million. Another 60% of the tokens have yet to enter circulation. I’m inclined to think this is a battle among futures traders; there’s little sign of a fundamental recovery. If you want to participate, keep your position small—either side could get liquidated.
#BULLA #资金费率 #DegenCoin
