The crypto derivatives market is sending an unusual signal: directional longs and directional shorts are nearly equal, a condition analysts say is historically unsustainable and could foreshadow a major shift ahead.
According to an analysis published by WuBlockchain yesterday, data from synthetic dollar protocol Ethena's transparency dashboard reveals that deployed capital, a proxy for excess long demand in futures markets, has fallen to just $791 million, down more than 85% from its all-time high.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
