My guess.
Finex whales reducing shorts push Market Makers to buy bitcoin on cheaper exchanges (using #tether
because other pairs have basically no liquidity
) and sell it on Finex (where price is higher due to the short closing).https://twitter.com/jon_ftx/status/1408903828339056644 …
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Replying to @paoloardoino
@paoloardoino , is finex still significant regarding whales, once it's market share is technically zero when compared to Binance? Seems like finex whales are already part of the past or, at best, they have nothing but some mid sized sharks trading right there.1 reply 0 retweets 1 like -
Replying to @caninana5
Yup. Sorry guys we're irrelevant now. This guy said so. Let's close Finex (and similar volume exchanges like Kraken , Bitstamp, and all OG ones) and open a bakery.
3 replies 0 retweets 9 likes -
Replying to @paoloardoino
Sorry being unpolite . I was talking about futures only. And, according to https://bitcoinfuturesinfo.com/market-share-and-futures-curve …, you guys have around 0.3% marketcap regarding open interest and also trading volume.
2 replies 0 retweets 2 likes
No worries. We have definitely another approach to risk and use case as well. Our open interest is 1/5 of binance but volume is 1/100. You can draw many conclusions from this.https://www.coingecko.com/en/exchanges/derivatives …
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