In this post. DogWifHat (WIF) has a strong community ethic, but the rapid price movements also rely on derivatives trading.
After falling below $1, #WIF rallied above $BTC Open interest has rebounded, with long positions prevailing at 64%, but traders are wary of a rebound.
#DogWifHat (WIF) is taking up all available liquidity while other coins and tokens continue to fall. WIF recovered from Monday's collapse, posting the highest trading volume of the midweek. DogWifHat (WIF) once again proved its preference as a community asset, with WIF returning to $1.70 after briefly falling below $1. WIF reflected a shift towards the
"big five
" key assets, which account for up to 80% of available liquidity. Among #altcoins , traders are looking for an early recovery, often redirecting funds to top tokens. WIF is still under selling pressure, but the trend could shift to net buying for the first time in two weeks. Decentralized trading data shows that there are slightly more WIF sellers than buyers in liquidity pools with a fixed value of $15 million or more, and Raydium is currently seeing small trades from shrimp and mid-tier traders.
Most WIF activity still occurs on centralized exchanges, which is the main reason why WIF has been able to increase trading volumes and recover quickly. About 39% of all WIF volume is concentrated in one trading pair, #Binance vs USDT, which provides an immediate buying opportunity. Thanks to the recent price recovery, WIF has reached the trading volume of the main token DOGE, which still has a daily trading volume of over $900 million.
WIF also relies on exchanges Bybit, Kraken and Gate. IO As of August 8, crowds of private wallet holders were rare, and only one mass wallet accounted for 0.6% of WIF's supply - too decentralized a group of insiders to shake the market, It's already too large and liquid a cryptocurrency.
It has the highest trading volume outside of the big three.
In the last week, a total of US$ 1.
Read us at: Compass Investments
