$SXT Most of are monitoring the spot and posting disappointing comments, but perhaps very few traders are focusing on futures. Before forming any opinion, take a look at the daily chart of SXT Perpetual. It was shorted so much even before it was launched on the spot, which was many times more than the total volume after it was launched on the spot. Think for yourself, when a coin is already being shorted so much in the futures perpetual contracts, how can it go up on the spot? The teams creating new coins want to take their coins up because their part is to unlock in the future.

If this $SXT is to go up on the spot, then the whales taking long positions in futures will have to make entries because many times larger trades are taken in futures than in spot.