Financial Financial Future Futures (WLFI)The cryptocurrency linked to the family of President Donald Trump, lost more than 44% of its value to open this weekend, since merchants chose to shorten decentralized financing (Defi) symbolic.
Futures began to quote on August 23 on decentralized exchange hyperlichid at $ 0.44. In a matter of hours, the price had collapsed less than $ 0.25 in the back of the meaning of negotiation.
The debut followed months of uncertainty. Initially, it was planned that the Token were not transferable. In mid -July, however, the measure was annulled. That decision raided the way for the introduction of the weekend. Spot trade and tokens distribution should be lived in September.
The current price would put WLFI at a totally diluted value of $ 24 billion that debuted at around $ 44 billion, depending on the total token supply of 100 billion.
More than $ 59 million have been registered in negotiation volume, with $ 57 million in open interest, according to Hyperliquid. The open interest measures the nominal amount of open positions in a specific market.
The financing rate is also biased down at an annualized rate of -35%. When negative rates occur, merchants who have short positions must pay those lengths, a classic bassist signal.
Negative financing rates have been rare late in the cryptography market despite the main assets such as BTC and ETH that are sold. WLFI’s negative rate demonstrates how merchants believe that the Token is overvalued and trusts both the additional inconvenience that they are willing to pay to maintain the short position.
