🚨 $MAGIC SHORTS ARE PAYING -543%/YR WHILE PRICE RIPS 🔥
Magic (Treasure DAO gaming token) is up 48% on Binance spot to $0.114 on $75M of 24h volume, and it is not moving alone. Gaming tokens are ripping across the board: PIXEL +28%, XAI +17%, YGG +10%, RONIN +9%, GALA +9% (per Cointime).
The spicy part is the funding. OKX MAGIC funding sits at -0.50% per 8 hours, roughly -543% annualized, which means shorts are crowded and paying longs every funding period while the price keeps climbing. That is classic squeeze fuel, and when the bill gets too big the unwind can move fast.
Hyperliquid shows the same crowded-short pattern elsewhere: MINA at -275%/yr and SAND at -167%/yr annualized funding. Meanwhile the Fear & Greed index reads 64 (Greed, up from 59 yesterday), so the market is already leaning risk-on.
Gaming season with real volume behind it, or a short squeeze that is about to run out of steam? 👇
Not financial advice. DYOR.
#crypto #altcoins #gaming
Magic (Treasure DAO gaming token) is up 48% on Binance spot to $0.114 on $75M of 24h volume, and it is not moving alone. Gaming tokens are ripping across the board: PIXEL +28%, XAI +17%, YGG +10%, RONIN +9%, GALA +9% (per Cointime).
The spicy part is the funding. OKX MAGIC funding sits at -0.50% per 8 hours, roughly -543% annualized, which means shorts are crowded and paying longs every funding period while the price keeps climbing. That is classic squeeze fuel, and when the bill gets too big the unwind can move fast.
Hyperliquid shows the same crowded-short pattern elsewhere: MINA at -275%/yr and SAND at -167%/yr annualized funding. Meanwhile the Fear & Greed index reads 64 (Greed, up from 59 yesterday), so the market is already leaning risk-on.
Gaming season with real volume behind it, or a short squeeze that is about to run out of steam? 👇
Not financial advice. DYOR.
#crypto #altcoins #gaming