Futures of World Liberty Financial (Wlfi)Cryptocurrency linked to President Donald Trump’s family lost more than 44% of their value at opening this weekend when dealers chose to map the decentralized funding (Defi) Token.
Futures began shopping August 23 at Decentral Exchange Hyperliquid for $ 0.44. Within a few hours, the price collapsed to less than $ 0.25 on the back of a significant trading volume.
The debut followed months of uncertainty. Originally the token was planned to be non-transferable. In mid -July, however, the measure was overturned. This decision paved the way to the weekend introduction. Spothandel and Token Distribution must go alive in September.
The current award set WLFI to a fully diluted value of $ 24 billion after debuting around $ 44 billion, based on the token’s total supply of 100 billion.
More than $ 59 million in trade volume has been registered with $ 57 million in open interest, according to Hyperliquid. Open interest rates measure the nominal amount of open positions in a specific market.
The financing rate is also skewed to the disadvantage with an annual rate of -35%. When negative prices occur, dealers who have short positions have to pay those who hold long, a classic bearish signal.
Negative financing rates have been rare too late in the crypto market despite large assets such as BTC and ETH selling. WLFI’s negative rate shows how dealers think the token is overrated and is so sure of longer disadvantage that they are willing to pay to have the short position.
