Funding rates on $ME on @DriftProtocol are in DEEP -ve territory @MagicEden
"If positive, longs pay shorts. If negative, shorts pay longs."
There is a new category on @coingecko - NFTStrategy
NFTStrategy is an automated protocol that reinvests trading fees into buying and selling floor NFTs.
What makes this particularly interesting is that something like $ME @MagicEden diverged massively vs "benchmarks" such as $SOL this year.
NFTStrategy - thus allows to take a directional view not only on the NFT collection @cryptopunksnfts @pudgypenguins and others, but also on the marketplace such as ME
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