The funding rate for the $K contract market is approaching -1%, which has skyrocketed the annualized return for bulls to 20 times! Market makers really made a fortune this time. The shorts mainly come from spot hedging and new coin short hunters, while the bulls are basically all market makers taking over. In just 2 hours, the trading volume and open interest surged from zero to 10 million USD! In contrast, the spot market only had a trading volume of 3 million USD after TGE, showing a significant gap. #KaitoAI