On-chain analytics firm Santiment has revealed Cardano (ADA) is one of the altcoins that could likely see price jumps shortly. Cardano Among Altcoins That Are Being Heavily Shorted Right Now In a new post on X, Santiment has talked about the altcoins being shorted against on the derivatives market. The indicator of relevance here is the “Funding Rate,” which keeps track of the periodic fee that derivatives traders have to exchange with each other. When the value of this metric is positive, it means the long contract holders are currently paying a premium to the short investors to hold onto their positions. Therefore, this kind of trend implies the presence of a bullish majority sentiment in the market. Related Reading: Ethereum Spot ETF Hype: ETH Whale Activity 64% More Than BTC On the other hand, the negative indicator suggests the short holders outweigh the long ones right now, and as such, a bearish mentality is the dominant one in the sector. In the current topic, Santiment has referred to the Funding Rate specifically for the cryptocurrency exch ..
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