Futures of World Liberty Financial (WLFI)The cryptocurrency linked to the family of President Donald Trump, lost more than 44% of their value at the opening of this weekend while the merchants chose to short-circuit decentralized finance (Challenge) token.
The term contracts began to negotiate itself on August 23 on a decentralized grant hyperliquid at $ 0.44. In a few hours, the price had collapsed at less than $ 0.25 on the back of a significant negotiation volume.
The beginnings followed months of uncertainty. Initially, the token had to be non -transferable. In mid-July, however, the measure was canceled. This decision paved the way for the introduction of the weekend. Trading at the point and distribution of tokens should be posted in September.
The current price would put the WLFI to an entirely diluted value of 24 billion dollars after having made its debut at around $ 44 billion, based on the total offer of the 100 billion token.
According to Hyperliquid, more than $ 59 million in negotiation volume have been recorded, with $ 57 million in open interest. Open interests measure the nominal quantity of positions open on a specific market.
The financing rate is also biased downwards at an annualized rate of -35%. When negative rates occur, traders occupying short positions must pay these long detention, a conventional lower signal.
Negative financing rates were recently rare on the cryptography market despite the main assets like BTC and ETH that are selling. The negative WLFI rate demonstrates how traders think that the token is overvalued and is so confident in addition to decrease that they are ready to pay to occupy the short -term position.
