The COAI project party made a large number of long positions at the beginning (operational mistakes) and has been paying funding fees for a long time -- initially strong manipulation with no one to take over.
Long-term positive funding rate. However, the exchange supports, only collecting funding fees once every 4 hours.
The project party has accumulated enough shorts through long-term manipulation, and will adjust the negative funding rate to once every hour.
Binance should have a deep connection with the project party; currently the negative funding rate, and the project party is continuously recovering.
Positive funding rate once every 4 hours (project party's turn) / Negative funding rate once every hour (retail investors' turn)
Binance not only helped $COAI get through the crisis, but is now starting to harvest retail shorts.
This rate situation only requires a sideways price, the expenditure of short funds will lead to a large number of short liquidations, forming buy orders.
The purpose of the early long positions for the main player has finally been achieved.
At this moment, it is advised for all COAI bulls and bears to stay in cash and observe!
Long-term sideways movement with up and down spikes, losses are unavoidable.
Approximately three to four significant fluctuations have completed the washout and distribution, more short positions can be followed up!
