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zaniiee
$SAND has surged 92% in two days, and I happened to be sitting on a short grid.
The catalyst was mainly risk removal: after the bridge exploit caused 500M SAND to be minted, Korean exchanges restricted trading. Once the alert was lifted, SAND jumped another 24%.
What caught my attention: funding is deeply negative, perpetuals trade below spot, and OI is falling. That looks more like old shorts covering than fresh longs piling in.
My grid upper limit is 0.08313, while today’s high hit 0.08299—
