Micron and SK Hynix trading volume surges on trade.xyz, funding rates show increased bottom-fishing activity
According to BlockBeats, since late June, Micron and SK Hynix have been continuously adjusting, and last night and this morning saw another wave of declines. Notably, on trade.xyz, SK Hynix and Micron trading volume has risen to the top two on the platform, with 24-hour trading volumes of $516 million and $465 million, respectively.
Funding rate data shows that there may be bottom-fishing leveraged positions in these assets. The annualized funding rate for SK Hynix has reached as high as 314.4%, making it the second most expensive funding rate after Zhipu (though Zhipu’s open interest and trading volume are both significantly lower than SK Hynix).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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