Kaito Price Plummets 32.8% in One Week, Long Traders Bear Brunt of Losses

Kaito has seen its price plummet by 32.8% in just one week, wiping out nearly all of its quarterly gains. Over the past two months, KAITO had surged 35.22%, but the recent sell-off has reversed this trend.

The Long/Short Ratio on CoinGlass has dropped to 0.46, indicating that selling volume now dominates the market. This is a significant shift from earlier when bulls dominated. The ratio sits firmly on the selling side, and Binance and OKX traders have driven much of this pressure.

Long traders are bearing the brunt of the losses, with around $748,000 lost compared to just $84,000 for short traders. This points to a strong chance that the decline will continue, working against long traders as selling continues to dominate.