$ON ripped 74% today and open interest more than doubled, +117% to $21M, on about $130M in volume. that's a lot of new leverage piling into a small book.
funding is 0.082% per interval, so longs are paying shorts to hold. not extreme yet, but it's climbing fast for a coin that was quiet yesterday. retail L/S 1.17, top traders 1.57, so everyone's leaning long.
when OI doubles on a vertical move, the unwind usually isn't gentle. anyone chasing here or waiting for the flush?
#ON #Futures
funding is 0.082% per interval, so longs are paying shorts to hold. not extreme yet, but it's climbing fast for a coin that was quiet yesterday. retail L/S 1.17, top traders 1.57, so everyone's leaning long.
when OI doubles on a vertical move, the unwind usually isn't gentle. anyone chasing here or waiting for the flush?
#ON #Futures