Venice Token (VVV) dropped 13% to $16.03 despite record quarterly earnings of $1.1 million and monthly earnings of $654,000, according to DeFiLlama data. The Funding Rate declined sharply from 0.0141% on August 28th to 0.0001%, indicating weakening long demand rather than confirmed short dominance. The Long/Short Ratio fell to 0.86, meaning short accounts outnumbered long accounts in the measured derivatives market. Approximately $267,000 left centralized exchanges within 12 hours, with negative netflows persisting for three days, suggesting tightening supply on exchange platforms. This divergence between strong protocol fundamentals and bearish price pressure illustrates a split market where derivatives traders remain pessimistic while spot outflows indicate potential supply tightening on exchanges.
Source: Read the original article
