SKR triggered ten consecutive funding alerts in ten minutes as its rate dropped to -0.2573 percent, showing an intense rush of traders betting against the token.
Imagine SKR is trading around $0.0235. Suddenly, a heavy surge of traders rushes to bet that the price will crash. Almost nobody is stepping up to take the opposite side of the bet.
Between 20:37 and 20:46 UTC, a key balancing metric triggered ten alerts in a row. It steadily dropped from -0.2546% to -0.2573% while SKR stayed hovering near $0.0235.
Between 20:37 and 20:46 UTC, a key balancing metric triggered ten alerts in a row. It steadily dropped from -0.2546% to -0.2573% while SKR price stayed hovering near $0.0235.
This fee is called the funding rate. When it turns deeply negative, traders betting on a drop must continuously pay cash directly to the traders betting on a rise just to keep their bets open.
Ten straight alerts mean the crowd is piling into downward bets regardless of the cost. Traders are paying a severe ongoing penalty, yet they refuse to let go of their negative positions.