$DRIFT has quickly reached a $500 million market cap with rapid listings on major exchanges like Coinbase, Binance, and Upbit. As projects in the Solana ecosystem strengthen, $DRIFT is capitalizing on this growth.
The liquidation of short positions is also driving the price higher, with a funding rate at -2%—meaning this situation is putting pressure on shorts. For longs, this results in a passive income of 2.00% of the margin every four hours.
Additionally, Upbit's $2 billion trading volume (spot) shows strong interest in the token. Reaching a $1 billion market cap and hitting $4 per token seems likely in the short term.
I'm holding my position. Take note: we'll be seeing similar scenarios with $SWELL too!