2/ Consolidation for nearly 6 months with one fakeout pump and dump and now in Jan again broke out of that range.
3/ DYDX funding rate %, fluctuations show some minor insight into proceeding price action. Negative funding rates together with a dump most often seem to coincide with scalp buy opportunities.
4/ As far as active addresses on Matic are concerned, they are in sync with the price of the token. Almost work as a proxy to price.
5/ When 30d price volatility goes up on Matic, it does not typically end well for the price action in short term. Right now, we see both price and volatility metric up on the 30d frame.
6/ Binance open interest sees spikes on every price pump during this consolidation and then dissipates as soon as momentum slows down. Funding rate regimes on Binance have also switched to neutral.
7/ While on USDT paired CVD has been neutral, we see that in the BUSD pairing Matic has seen spot bidding while perps cvd has been relatively dim.
8/ Breakout of such a long consolidation range should not be taken lightly although there are warning signs of a pullback as well. With ZK2023 Mainnet announcement and release coming up,Matic might surprise us.
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1/7 The Ongoing Issues With Third-Party Automation Providers And Spot Holdings.
2/7 For the last three months, users of a specific third-party automation provider have been voicing concerns over their spot holdings being manipulated.
3/7 No resolution has been reached by exchanges or third parties - they just tell victims to file police complaints.
1/ ICYMI, @coinmetrics@coinmetrics put together this incredibly comprehensive 40 page ETH research report:
"Mapping Out The Merge"
We found it quite informative and wanted to be sure to share it with our readers in TLDR format, with a few of our fav metrics for added context
2/ The Merge is scheduled to take place on 9-15-2022
When this happens validators of ETH's blockchain will switch from Proof-of-Work mining to Proof-of-Stake
PoW vs PoS has been the topic of much debate, but in short PoS proposes to improve ETH's security, economics,& emissions
3/ At present PoW miners alone validate transactions and secure Ethereum's network
Under PoS validators will lock up their ETH in exchange for yield (currently ~4.5% APY) this feature seeks to incentivize large holders to secure ETH's network with yield rewards as payment
/1: Funding rates went negative. Now analysts are saying its time to go long and a reversal is coming. Is there any truth to this?
Today we see what the data says and showcase a strategy you can employ to grab some alpha. #BTC
/2: To start off, funding rate is defined as the cost to hold a perpetual futures position open. Each exchange has subtle nuances to this, but generally speaking it updates periodically throughout the day and has a baseline where long positions pay short positions.
/3: Now when funding rate goes negative, it implies that traders going long are actually getting paid to keep the position open by those going short. This is not normal in the market.
Short-term high leverage liquidations #BTC: 19.7k and 22k. #ETH: 1,050
(1/4)
Low leverage positioning on #BTC and #ETH
On ETH, there are pools near 1300 to be taken out.
On BTC, once again near 25k area.
(2/4)
BTC Binance and aggregated funding is back to neutral.
A large majority of pairs on Binance USD-Margined Futures have turned to neutral. (2nd image shows the list of pairs with negative funding, rest are neutral funding except BTCDOM).