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SOON slips 15% in a single day – But Binance traders are quietly stacking longs
['Olayiwola Dolapo', 'Written By', 'Reviewed By', 'Benjamin Njiri', 'Gladys Makena', 'Muriuki Lazaro', 'Ishika Kumari', 'Kelvin Murithi']
AMBCrypto
SOON [SOON] has stayed on the bearish side of the market as capital continues to shrink across its markets.
The declining Open Interest in the perpetual market offered one of the clearest signals.
Binance traders keep stacking the long sideThe market difficulties have not stopped Binance traders from accumulating more buy-side volume in the perpetual market.
CoinGlass reported the Long/Short Ratio, which tracks whether volume in the perpetual market tilts toward longs or shorts, and it confirmed Binance top traders holding more buy volume across both accounts and positions.
Across Binance, both top and retail traders currently position themselves long, and Binance controls the most volume and Open Interest at $50.83 million and $10.02 million, respectively.