Just scanned the contract data, and the fee signal for $INIT is worth a closer look.
Current price is 0.0685 USDT, down 15% in the last 24 hours, but open interest (OI) actually increased by 9.2%, rising steadily from 1.9M to 2.0M. Trading volume surged to $8.3M, with a market cap of $19.1M, and the spot trading pair is also active, indicating that this drop isn't just a simple bull capitulation.
Key focus is on the fees: sliding from -0.0043% to -0.0047%, shorts are not only holding their ground but are actually doubling down. Open interest is expanding moderately, and the battle between bulls and bears is clearly escalating. Community sentiment is leaning bullish, suggesting that retail traders are still stubbornly bottom-fishing, while smart money (331 visible players) and media interest (10 related news articles) are already in and watching this asset closely.
The 24-hour Binance contract liquidation data also reflects this kind of asset differentiation.
From a chart perspective: it's a known fact that bears are in control, with a 15% price drop coupled with negative fees, indicating that short power is still accumulating. However, the more this situation persists, the more we need to be cautious about the combination of "deep negative fees + low prices" — historical experience tells us that this structure often serves as a breeding ground for short covering rallies.
For those holding short positions on $INIT , be aware that after the fees turn negative, your holding costs will slowly eat into profits, so don't just focus on floating gains while forgetting about hidden costs. If you're considering going long, it's best to stay cautious and observe more in this bearish atmosphere, waiting for clearer direction before making a move. Short-term volatility is likely to increase, so regardless of which side you're on, don't get too aggressive with leverage; risk management comes first.
Current price is 0.0685 USDT, down 15% in the last 24 hours, but open interest (OI) actually increased by 9.2%, rising steadily from 1.9M to 2.0M. Trading volume surged to $8.3M, with a market cap of $19.1M, and the spot trading pair is also active, indicating that this drop isn't just a simple bull capitulation.
Key focus is on the fees: sliding from -0.0043% to -0.0047%, shorts are not only holding their ground but are actually doubling down. Open interest is expanding moderately, and the battle between bulls and bears is clearly escalating. Community sentiment is leaning bullish, suggesting that retail traders are still stubbornly bottom-fishing, while smart money (331 visible players) and media interest (10 related news articles) are already in and watching this asset closely.
The 24-hour Binance contract liquidation data also reflects this kind of asset differentiation.
From a chart perspective: it's a known fact that bears are in control, with a 15% price drop coupled with negative fees, indicating that short power is still accumulating. However, the more this situation persists, the more we need to be cautious about the combination of "deep negative fees + low prices" — historical experience tells us that this structure often serves as a breeding ground for short covering rallies.
For those holding short positions on $INIT , be aware that after the fees turn negative, your holding costs will slowly eat into profits, so don't just focus on floating gains while forgetting about hidden costs. If you're considering going long, it's best to stay cautious and observe more in this bearish atmosphere, waiting for clearer direction before making a move. Short-term volatility is likely to increase, so regardless of which side you're on, don't get too aggressive with leverage; risk management comes first.