๐ฅ SLF Panic, delisting and a chance for a short squeeze
The exchange announced the delisting of $SLF
Over the year, the price collapsed by -94%, updating the historical minimum around $0.032.
Currently, staking for $SLF offers ~18% APR.
๐ฉธ Why the market is in panic
Investors and traders are massively exiting the asset.
At the same time, there is a record number of shorts in the market, the funding rate is negative โ a sign of overheating downward.
โณ Important dates
September 8 โ unlock 11.9M SLF (โ7% of circulation). This may exert selling pressure.
September 9 โ forced closure of Margin shorts on Binance โ possible offer deficit and start of squeeze.
๐ Possible scenarios
Technical rebound โ target $0.048โ0.07 (+50โ120%).
Intensified squeeze โ target $0.08โ0.12 (upon liquidation of shorts).
Dream up to $0.15 โ requires hardcore squeeze and migration of liquidity outside Binance (chance lower, but possible).
๐ฏ My view
I bought more at $0.032. I will wait for a rebound on the wave of short closures.
I plan to take my first profits in the $0.048โ0.07 zone.
If lucky and the squeeze drives the price โ I would be happy to see $0.10โ0.15.
โก Conclusion: Currently, $SLF is in the zone of historical lows, the market is overloaded with shorts, and the dates September 8โ10 could be crucial for a powerful rebound.
#SLF #selfchain