The first on the skyrocketing list is $SIGN , has a significant background but greater risks!
This project focuses on on-chain identity verification and token distribution, backed by major institutions like Sequoia Capital. The technology sounds impressive, but today's 70% violent surge is purely due to being listed on a South Korean exchange. The market cap is about to hit 100 million, but those in the know understand - the first three days after a new coin is listed are the most dangerous, likely a pump and dump orchestrated by the whales, just waiting for novices to jump in and take the bait!
The operations of SIGN really treat contract players like leeks to be harvested!
The funding rate has changed from settling every 4 hours to every hour, making it even more interesting - getting cut every hour!
If you go against the trend, the cost of the rate will snowball, especially for overnight positions; you might find that your margin has been wiped out by the rates after a night's sleep.
High-frequency quantitative teams are overjoyed, able to arbitrage accurately every hour, but for retail investors to follow suit? It's extremely difficult! What’s even worse is that under extreme market conditions, the rate could spike to ±2%, and high-leverage players could be hit hard by price volatility and funding rates simultaneously, leading to a full risk of liquidation.
