$SIREN Written 13 minutes before the funding rate changed to 1h. Siren is different from Pippin. Pippin's spot was fully unlocked, then became popular for a long time, so Pippin's recent price action didn't pull negative funding through spot, but rather through futures liquidation to pull the funding. So what about Siren? Strong spot control. This also means there's a large amount of spot that will eventually need to be dumped. The question is, before the major crash, can shorting sustain the negative funding and the upward wicks?
$SIREN Written 13 minutes before the funding rate changed to 1h. Siren is different from Pippin. Pippin's spot was fully unlocked, then became popular for a long time, so Pippin's recent price action didn't pull negative funding through spot, but rather through futures liquidation to pull the funding. So what about Siren? Strong spot control. This also means there's a large amount of spot that will eventually need to be dumped. The question is, before the major crash, can shorting sustain the negative funding and the upward wicks?