FOLKS on Binance Hits $23.5B in 24-Hour Contract Volume, Ranks 3rd Behind BTC and ETH as Smart Money Bets 65% Long
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Change: $2,749.64 (4.32%)
+0.0038%
Longs pay
COINOTAG News, citing on-chain analyst Ai Auntie, reports that the 24-hour FOLKS contract trading volume on Binance surged to third behind BTC and ETH, hitting $23.5 billion, while open interest sits at $29.83 million.
Among 294 Smart Money traders on Binance, 65% (191) hold long positions totaling $6.18 million, with an average entry of $21.88; 35% (103) are net shorts at $2.57 million, with an average entry price of $15.64, predominantly resting orders at the lows.
Taken together, the observed gap between elevated FOLKS activity and a long bias among Smart Money positions signals a measured appetite for leverage in crypto derivatives, with BTC and ETH acting as market risk benchmarks for participants.