en.bitcoinsistemi.com
Livepeer ($LPT), the first decentralized live video streaming network protocol, has seen an increase of 48% in the last 24 hours.
This increase was due to a short squeeze as many traders who had predicted a decline in its price for $LPT had to close their positions and buy back their tokens at higher prices.
The short squeeze also showed up in the futures market, where $LPT altcoin futures contracts reached a surprisingly negative rate. According to data from Skew, Binance, OKX, Bybit and other major exchanges have more than 2,000% annual negative rates for $LPT futures.
This means that short traders have to pay a large premium to renew their contracts, while long traders can earn a high rate of return by lending their tokens.
The trading volume of $LPT perpetual contracts on Binance has also increased rapidly, reaching $1.99 billion in the last 24 hours. This figure surpassed the volume of BTC perpetual contracts of $1.98 billion, placing it first among all cryptocurrencies on Binance.
*Coins that experience rapid rises in this way are extra risky. For this reason, it is necessary to be much more careful when investing.
*Not investment advice.