Failed FTX Exchange’s FTT, Serum Tokens Lead Altcoin Rally, Triggering Short Squeeze

Failed FTX Exchange's FTT, Serum Tokens Lead Altcoin Rally, Triggering Short Squeeze

A signal of traders’ extreme bearish positioning before Monday’s price increase was the funding rates for perpetual swaps of solana (SOL) sinking to 1,000% annualized rate. Then, SOL gained 20% and some $15 million of short bets were liquidated, according to Coinglass.

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