Upbit just put $KAIA in KRW, BTC and USDT books, spot trading opens later today, and shorts are footing a $1.7M daily bill to argue with that.
Only $13M sitting in open interest against a +38.8% day, so it's a small book getting squeezed hard rather than a wall of size. Price already cleared its lows and sits mid-range, shorts paying 0.55% every hour just to keep betting against a listing that hasn't even gone live yet.
Most accounts here are already long, 57/43, so this isn't the crowd fading the move.
NFA 👀
Only $13M sitting in open interest against a +38.8% day, so it's a small book getting squeezed hard rather than a wall of size. Price already cleared its lows and sits mid-range, shorts paying 0.55% every hour just to keep betting against a listing that hasn't even gone live yet.
Most accounts here are already long, 57/43, so this isn't the crowd fading the move.
NFA 👀