the daily degen 🦍(14nov23)
handle.fi daily trooper update
todays markets
market news
⚠️moody’s warning on the massive U.S. debt burden has turned into a nonevent.
💱THORChain becomes third-largest DEX as RUNE surges 50% in a week.
💰aave lending markets resume normal operations after security scare.
🚤solana overtakes ethereum by active users after 70% spike.
😖XRP surges then plunges after ‘fake’ report of blackrock ETF.
crypto fear and greed index
trooperGlossary: funding rate 📚
the funding rate in trading, particularly in the context of perpetual contracts in cryptocurrency markets, is a mechanism designed to align the market price of the perpetual contract with the spot price of the underlying asset.
it's essentially a periodic payment made by one side of the market (long or short) to the other. when the funding rate is positive, long position holders pay short position holders, suggesting that the price of the perpetual contract is higher than the spot price. conversely, a negative funding rate means shorts pay longs, indicating the perpetual contract trades below the spot price. this system incentivizes traders to take positions that bring the perpetual contract price closer to the spot price, promoting market equilibrium. it's a crucial element for traders in decentralized finance (DeFi) and crypto exchanges to understand, as it affects their trading strategy and potential profitability.
around the X-verse… (formerly the twitterverse)
HODL in full effect! 💪🏼…
brace yourselves 🎢…
that would be interesting 🤔…
trade ideas
trade: short ETH/ USD
ethereum (ETH) is currently grappling with a significant resistance barrier around the ~2,100 mark.
following two recent unsuccessful attempts to surpass this threshold, there's a possibility that there may be a deeper pullback before making another attempt at a breakthrough.
this may be a time to consider initiating a SHORT position. a possible target for this trade idea could be the ~1,860 region, where ETH may find support.
#NFA #DYOR
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