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$BTR USDT contract, the return on a 20x short position surged to +1558.91%. The average opening price was 0.20829, while the latest price plunged to 0.04338, down more than 79%.
In light of current events: As a Bitcoin L2 (Bitlayer) project, BTR is backed by institutions including Franklin Templeton, but after surging 278% in late August, it faced a brutal washout.
The core issue lies in the collapse of its tokenomics: with a total supply of 1 billion tokens and only 26% circulating, expected unlocks in late August, along with selling pressure from early investors and airdrop reci