The AWE token’s market capitalization fell 14% to $124.13 million in one day amid capital outflows and increased selling pressure from Binance traders. More than 52% of the asset’s trading volume across cryptocurrency exchanges came from sellers, while Binance’s long-to-short ratio stood at 0.59 over the past 24 hours. The perpetual market’s funding rate turned negative at -0.0020%, compared with roughly +0.0018% on November 1, indicating that short positions now dominate. Perpetual netflows stood at -$517,340, while whale selling added further downward pressure and created room for additional declines. Binance’s resumption of withdrawals following the $6.3 billion hack in late October also contributed to the market-wide panic.
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