News
PONS Pulls Back 10.5% With Futures OI at 35% of Its Market Cap
PONS retraced 10.5% to $0.5698 after its vertical run, yet open interest kept building to $143.2M - about 35% of the token's $411M market cap - with funding positive on every venue.
Chainlink Longs Liquidated 77-to-1 Versus Shorts as LINK Slips to $10.66
LINK fell 4.9% to $10.66 with $2.3M in long liquidations against just $30K in shorts, while 67.9% of accounts stay long and open interest holds at $467.8M.
Cardano Funding Goes Negative on 17 of 23 Venues as ADA Holds $0.191
ADA fell 5.0% to $0.1911 yet open interest held flat at $367.4M while funding turned negative on 17 of 23 exchanges and annualized basis sank to -19.1%.
Aave Slides 7.1% to $116 as Open Interest Bleeds 5.8% to $257M
AAVE dropped 7.1% to $116.21 while futures open interest contracted 5.8% to $257.0M, with $1.5M in long liquidations and Binance accounts flipping net short.
XRP Funding Turns Negative on 5 Major Venues While 76% of Accounts Stay Long
Shorts are now paying to press XRP at $1.2651 — funding is negative on OKX, Bybit, Bitget, KuCoin and CoinEx — yet three out of four positioned accounts are still long. One side is wrong.
TRON's Strange Calm: TRX at $0.3347 With -19.6% Basis and Almost Zero Liquidations
TRX slipped just 0.5% to $0.3347 with only $260K liquidated in 24 hours, yet its futures trade at a -19.6% annualized discount and funding is negative on 13 of 21 venues.
Solana Slips Under $100 but Open Interest Rises 1.5% — Someone Is Buying This Dip
SOL trades at $97.01, down 2.0%, yet futures open interest grew 1.5% to $4.3B and funding is negative on 8 of 23 venues. Fresh positions are being built into weakness on both sides.
SOL Liquidation Skew: $18.2M of Longs Wiped vs $1.9M Shorts as Sellers Dominate the Tape
Solana's slide to $97.01 liquidated longs at a 9-to-1 ratio over 24 hours, and Binance taker flow is just 29.7% buys — the aggression data says sellers are still in charge below $100.
SHIB Falls 6.8% and Every Liquidated Dollar Was a Long — Funding Negative on 11 of 13 Venues
Shiba Inu dropped 6.8% to $0.00000477 with $472K of longs liquidated versus just $3K of shorts. Funding is negative on 11 of 13 venues, yet OI actually rose 3.3%.
DOGE's 78% Long Crowd Meets a 27 RSI: $7.6M Liquidated as OI Drains 3.8%
Dogecoin fell 3.3% to $0.0789 with 95% of its $8.0M in liquidations hitting longs. Accounts remain 77.8% long while takers are just 39.5% buyers — and the 4h RSI at 27.3 is nearly washed out.
BNB Holds $710 With a +19% Annualized Basis — The Only Major in Steep Contango
BNB slipped just 1.0% to $710.06 while its futures trade at a +19.0% annualized premium — the opposite of BTC's -10.5% backwardation. Binance hosts nearly half of the $870M OI.
AVAX at $7.24: Futures Discount Hits -15% Annualized While Takers Sell 2-to-1
Avalanche slid 2.5% to $7.24 with a -15.1% annualized futures basis, funding negative on 10 of 23 venues and Binance takers just 33.2% buyers — bearish pressure without a bearish crowd.
ARB Explodes 14.2% as Open Interest Jumps 28% — OKX Book Grows 48% in a Day
Arbitrum surged 14.2% to $0.1597 on the Standard Chartered outperformance call, with futures OI up 27.7% to $210M and shorts liquidated for $3.4M. Positive 9.2% annualized basis says the chase is on.
Hyperliquid Whale Tracker: $5.27B Notional Across 9,944 Positions Held by 1,263 Wallets
Tracked whale wallets on Hyperliquid currently hold $5.27B in open notional across 9,944 positions, while HYPE itself trades at $78.27 with the platform's CEX-listed OI near $2.8B.
HYPE Bucks the Tape: +1.3% to $78.27 With Binance OI Up 5.8% on a Red Day
While majors bled, HYPE gained 1.3% to $78.27 as open interest rose 1.2% to $2.8B — Binance's book grew 5.8% in 24 hours and liquidations were a rounding error at $4.6M.
Ethereum OI Puzzle: Gate Dumps 10.8% of Its Book While Bybit Adds 5.1%
ETH trades near $2,386 with $23.9B in futures open interest, nearly flat on the day — but under the surface Gate slashed exposure 10.8% while Bybit built positions, the sharpest venue split on the board.
ETH Positioning Extreme: 78% of Binance Accounts Long, Funding Near Zero
Ethereum's perp crowd is 71% long on average — 78% on Binance — yet funding sits at just 0.0005% and two venues have flipped negative. Cheap crowded longs are historically fragile setups.
ETH ETFs Lose $141M in a Day Yet Weekly Flows Stay Positive at +$203M
Ether spot ETFs saw $141.5M leave on Sept 15, but the 7-day net flow is still +$203.1M — a sharp contrast with bitcoin funds, which are negative on both windows. AUM stands at $15.4B.
ETH Futures Slip Into Backwardation at -2.4% Annualized — Milder Than BTC's -10.5%
Ethereum's futures basis has gone negative at roughly -2.4% annualized while bitcoin's sits at -10.5%. The gap says hedging pressure is concentrated in BTC, leaving ETH's derivatives comparatively unstressed.
Bitcoin Holds $75.6K September Low as $42.2B Open Interest Barely Blinks
BTC is trading near $75,555, down 0.6% in 24 hours after tagging a September low, yet futures open interest has slipped just 0.8% to $42.2B — leverage is staying put, and Bybit is even adding exposure.