3.9 hours ago, the $ESPORTS that was being watched is now out of action, and the most intense part is that the price has fallen from 0.22058 to 0.13904, a 36.97% drop after T0.

This wave isn't "lack of volume"; instead, trading volume increased from $155.1M to $216.4M, a 39.53% rise.
But the price didn't continue upward, indicating that the market looks more like a high-level turnover with fading enthusiasm, not just a simple volume reduction for rest.
Positions are also cooling down.
Open Interest (OI) dropped from $20.4M to $14.4M, a 29.19% decrease after T0.
Previously, the 24-hour OI showed +151.6%, now it’s down to +76.8%, leverage funds are still present, but the momentum is clearly not as strong as before.
Funding rate changes are more direct.
T0 is +0.9242% long-side paid, now only +0.005%.
In plain language, the longs were willing to pay a high "entry fee" to take positions just now, but this money has basically been pushed back, and the short squeeze vibe has noticeably diminished.
The long-short structure still leans long, with the average account long-short ratio at 1.33, and top-tier accounts at 1.97. The Taker fee has only slightly shifted from 0.95 to 1.01, indicating a small shift toward buying.
So, this isn't entirely no one watching, but the high-level consensus enthusiasm has already eased.
If later, the $ESPORTS price reclaims the vicinity of T0, and both OI and funding rates rise together, then the "cooling off" logic will need to be reconsidered.
#ESPORTS
Generated using the Claude Fable 5 model. Claude is AI and can make mistakes. Please double-check responses.