$SOPH up 8%, but the fee rate keeps slipping further negative
It’s up 8%, yet the money is being pushed in the opposite direction.
SOPH current price: 0.004204 USDT, up 8.0% in 24h. Looks red—check the order book. The position-size line is off: 5.3M first retreats to 5.2M, then it sharply bounces up to 5.5M, and then pushes up to 5.8M, +8.7%. This isn’t a low-volume, slow bleed. When the price moves upward, someone is actually throwing real money in, one order at a time.
And they’re still hitting shorts.
Funding rate -0.0296% → -0.0297%, negative—still moving deeper. Translated: longs receive money, shorts pay. Shorts already have the advantage, but the longer bulls hold on, the higher the cost gets.
24h trading volume: $10.1M, market cap only $17.0M. The “float” isn’t big, but the moves aren’t small. Upbit is set to list SOPH—news has already been refreshed around 10 times. Everyone’s watching. In this kind of setup, a negative fee rate doesn’t mean the direction is decided; it only means someone is being worn down little by little by their own position.
Keep an eye on 0.004204. Don’t stand guard in the funding rate.
A negative funding rate isn’t a protective talisman—whoever pays can be you the next minute.
#SOPH #币安 #Bitcoin