Most people don’t understand the reason why $cashcat isn’t going up.
Reason #1 to many longs.
When most people are long. Funding fees are positive.
Making it attracting for short traders.
On HL short traders earn a fee every hour by just holding short.
#2 12% of supply is being shorted.
Which means that, until longs are removed. and funding fees turn negative
Short traders have no reason to keep farming fees.
But now, even with 12% of supply being shorted Many are still longing on OKX and bybit trying to catch the bottom to make 1,000,000%
understand funding fees.
For example the top trader on HL is making 50% yearly as of now APY by just holding his short.
There’s no reason for him to close.
Even if the price goes up he will still cook on fees. he can close at break even and still make 300k from FEES ALONE
This is the same with bitcoin.
When funding fees were 10% year on bitcoin this is when we topped last year in October
The yearly funding fees are now negative on bitcoin -10% on some exchanges
Which means big whales will get in. Bc either way they will make 10% APY + the price is going up.
Many look at the daily rates.
Start looking at yearly and you will understand
On September 3rd funding rates for cashcat were sitting at 176%
So people can just short and hold 176% APY attractive isnt it ?
September 3rd cashcat was at 300m
Why would someone open a position and pay 176% yearly! Just to keep their position open?
And keep in mind this is without leverage.
So someone holding 10x on bybit is paying 1176% YEARLY just to keep their position open hence why we saw a top.
It was getting to expensive and longs had to close their position.
start learning funding fees on the yearly. And your trading will be 100x better.
Looks like cashcat will sweep $120m market cap.
With 12% of supply being short
@vladtenev there’s free money an easy 20x if you liquidate the shorts.
If only people understand supply demand and liquidity
People getting mad about my $cashcat post
You can keep crying and yap at me how I’m spreading “FUD” which i am not 🤣
Or you can stop being a little bitch, Agree with the facts, and post.
Just because I post neutral and ain’t bull posting all day doesn’t mean I’m bearish.
The same people who think FUD works are the same people who think Michael saylor buying bitcoin and announcing it has any affect on it.
There’s no such thing as FUD and there’s no such thing as FOMO lol.
no one can make you sell and no one will make you buy BUT YOURSELF
lol 12% of $cashcat supply being short is diabolical
That’s as much as robinhood is holding.
Truly insanity.
only if we liquidated them. the short squeeze would be $5 🤣
We can do something so fun here, but community ain’t strong enough yet.
so you’re gonna tell me there’s 110,000 cashcat holders on chain. this doesn’t include solana holders and robinhood holders + CEX
Yet we’re only at 150m?
Imagine if 110,00 holders accumulated $10 everyday that’s 1+ million $ inflow.
We’d be at $10b 😂
Problem I see with $cashcat is that there’s no organic buys. I feel like there’s 5-6 people actually accumulating on dips.
And the rest is just market makers pumping and dumping
Liquidating shorts and longs
If retail actually took supply away wed be at 500m now
But instead, many are just shilling hoping that their bags will pump.
At the end of the day.
Nothing you do, can convince a random person to buy a bitcoin, cashcat, etc.
okay im not trying to Fud but this cashcat chart is insane lmao 😂😂😂
tf is this shit bro lmaooooooo 💀💀💀💀💀😂😂😂
and funding fees are still 10% how tf is this even possible? positive funding + price dumping, just shows retail is trying to get rich quick