24h contract trading volume 117 million spot trading volume 77M circulating market value 40M
Contract 117 million + spot 77M = about 194 million USDT
Contract accounts for about 60% (117 million / 194 million ≈ 0.603), spot accounts for 40%. This indicates that ZKC's market is dominated by leveraged trading
24h turnover rate = total trading volume / circulating market value = 194 million / 40M ≈ 4.85=485%
Normal market turnover rate <100%; >200% is common in meme coins or short-term hype assets.
A high turnover rate often indicates increased volatility. If it is retail FOMO driven, it is likely to form a bubble
If institutional participation is involved, it may be sustainable
However, combined with the previous negative funding rate and high long-short ratio, this looks more like a retail-driven pump, and the risk is that profit-taking leads to a collapse.
2: Long-short ratio
Current long-short ratio 1.5-1.6 indicates that long positions dominate the market
Typically, when the long-short ratio >1 (bullish), the funding rate is positive because long demand pushes up contract prices > spot prices, and longs need to pay shorts to balance.
However, the negative rate here indicates that despite many long positions, the contracts are still at a discount — possibly because the few shorts are of higher "quality" (smart money)
A high long-short ratio is often a precursor to a reversal — if too many people are long, any negative news or profit-taking can trigger a sell-off. The negative funding rate amplifies this: it attracts more longs (because they earn the rate), but if the shorts are correct (price correction), the longs will face significant liquidations.
Monitoring suggestions: Watch if OI continues to increase >20M (strong confirmation) or decreases <15M (exit signal). Combine with the funding rate turning positive or volume declining to judge the turning point.
bsc is like a huge farm filled with children of migrant workers from the four provinces They brought the daily settlement experience from Shenzhen Sanhe Square to bsc Every day staring at the 1s K-line daily settlement Wow, earned another 50u Steamed clams!! The tractor at home can be refueled again! The money for fertilizer in the field has returned! The younger sister's tuition has been secured! Having said that Close the debot/gmgn Happily open Pin Hao Fan Order a portion of Huangmen chicken and dayao A day's daily settlement ends like this Cycle repeats, day after day Until the younger sister finally gets married The tractor finally breaks down The body finally collapses