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Merchants within the perpetual futures market tied to the BNB token are leaning bearish because the embattled cryptocurrency faces a difficult surroundings on a number of fronts. Knowledge tracked by Coinglass present open curiosity and volume-weighted funding charges in perpetual futures have slipped to -0.18%, the bottom since late April. These numbers imply shorts, or positions that revenue from a worth drop, are dominant, and are prepared to pay longs to maintain their bearish bets open. Funding charges are charged each eight hours. “BNB is being closely shorted,” Huff Haus, co-founder of Pear Protocol, mentioned, referring to the deeply unfavourable funding charges.
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