The first breakthrough of myx in August is approaching a 30x token, with a massive short squeeze leading to several times the increase. The short selling rate is as high as -2%. Generally speaking, when the spot price is higher than the contract price, it results in a negative rate. A negative funding rate indicates that there are still many shorts; the more it rises, the more shorts there are. The chips are already in the hands of the market makers, and the bulls are collecting large funding fees, grinding down the shorts. It won't drop until the short sellers are wiped out.
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