TAC +87% Second Squeeze: OI $30.5M, Funding Still Negative

TAC is doing it again. The token jumped 87% in 24 hours to $0.0058 on Binance, its second squeeze in three days, and this time open interest is running far ahead of the first leg.

TAC's Second Squeeze in Three Days

Binance data shows TAC traded between $0.0031 and $0.00618 over the past day, a round trip that wiped out most of the sellers who built up after the first spike on August 25. Liquidation data backs that up: TAC shorts paid $1.35M of the $1.81M liquidated in 24 hours, about 74% of the total. Longs got hit too, but only for $465K. This move is still short-driven, not a clean breakout.

OI Doubles to $30.5M: Who Is Adding?

Open interest across venues reached $30.5M, up 76% in 24 hours and more than double the $13.7M level when TAC first squeezed. KuCoin carries the largest book at 36%, Binance is close behind at 35%, and Bybit holds 19%. The 4-hour OI changes are positive on all six venues, so the build is broad rather than one exchange chasing the move. Aster posted the sharpest relative jump at +244% on the day.

Funding Still Deep Negative: Shorts Keep Paying

Funding on Binance sits at -0.136% per 8 hours, with Gate at -0.101% and MEXC at -0.136%. A negative rate this deep means shorts are paying longs to stay short, and it has stayed negative all day even as price rose. That is the signature of a crowded short book. The only positive outliers are Bybit and KuCoin at +0.005%, which is close to zero and not meaningful.

What to Watch

Two numbers decide where TAC goes next. First, funding: if the negative rate flips positive, the squeeze engine runs out of fuel. Second, OI: it is still climbing, so leverage is still being added. A pullback with OI shrinking looks like profit-taking; a pullback with OI growing looks like longs buying the dip into a short-heavy tape. The risk cuts both ways, which is normal for a token that doubled its open interest in a day.

Data as of 14:47 Beijing time on August 27, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges.