Kaito's Price Plummets 32.8% in a Week Amidst Dominant Selling Volume

Kaito [KAITO] has lost 32.8% of its value in just one week, wiping out nearly all its gains from the past two months. The asset's price plummeted by 18.7% over the last 24 hours, a significant sell-off that has left long traders reeling.

The Long/Short Ratio, which measures perpetual-market volume, has fallen to 0.46, indicating that selling is dominating buying activity. Binance and OKX traders have driven much of this pressure, with long traders losing around $748,000 compared to short traders' losses of $84,000.

Capital in the perpetual market has also contracted sharply, with outflows outweighing inflows by a net flow of -$10.99 million. This points to further downside risk and heightened panic selling.