This time, following the pace of Liangxi, the 1.7 orders were originally set at 1.7 and 1.6, but last night the drop was a bit severe, so the 1.6 order was canceled, and unexpectedly, the lowest dipped to 1.59.
According to Liangxi, currently, the layer token is very popular on Korean exchanges, and the market makers are very powerful. After a brief pullback from Binance, it has continued to rise, nearly five times in a month and a half. Even during the recent sharp market drop, layer remained strong. However, yesterday's surge may have wiped out many long positions; altcoins are easily manipulated by market makers, so brothers trading contracts must avoid high leverage. Yesterday saw a 40% pullback, and all positions with over three times leverage were wiped out.
Currently, the open interest for layer contracts is still very high, with a market cap of over 39 million, and open interest exceeding 47 million. Moreover, the strength of long positions remains very strong, so when opening contracts, be sure to pay attention to avoid high multiples.
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