Wu said that according to Coinglass data, DAR has experienced a short squeeze. The annualized negative fees of DAR U-based perpetual contracts on Binance, Bybit and Bitget are all over 1,100%, and DAR has risen by nearly 40% in the past 24 hours. At the same time, the transaction volume and open interest of DAR U-based perpetual contracts on the entire network have soared in the past 24 hours, reaching US$586 million and US$50 million respectively, both setting new historical highs.