SKR logged deeply negative funding rates near -0.118% across ten consecutive minutes. This shows an intense crowd betting on lower prices, paying regular fees to opposing traders to keep their trades open.
Imagine SKR is trading at just over two cents. A large wave of traders has rushed in to bet that the price is going to drop, heavily outnumbering the people betting on a rise.
Across a ten-minute span, the price stayed steady between $0.0221 and $0.0223. Even with little price movement, the cost to maintain those downward bets stayed exceptionally high.
This balance check is called the funding rate. When too many traders bet in one direction, the exchange makes them pay cash directly to the other side to keep the market balanced.
The rate held near -0.118% per hour. That is far steeper than normal trading fees, acting like expensive hourly rent that downward bettors must keep paying just to hold their positions.
When this alert fires ten times in ten minutes, it shows the crowd is trapped paying fees. If price refuses to drop, those sellers may panic and buy to close, sparking a sharp upward squeeze.