🙅♂ #LAB PiggyBank closed a $LAB hedge due to extreme volatility and negative funding rates, making the position unsustainable. The protocol anticipates drawdowns of about 15% for its $USDC vault, 12% for SPYx, and 9% for JitoSOL, while excluding its locked $LAB holdings from NAV until August unlocks. ZachXBT criticized the strategy for exposing user funds to a highly speculative asset.
What will we do when Coins broke last ATH ?
There are 3 cases:
1. It does sharp-correction. Ex: #Bank
2. It takes a lot of time for consolidation around ATH. EX: #HYPE
3. It takes 1 or few weeks to re-accumulate and prints new highs. Ex #LAB
Therefore, the first reaction after breaking ATH is No-Trading-Zone.
There are 3 cases:
1. It does sharp-correction. Ex: #Bank
2. It takes a lot of time for consolidation around ATH. EX: #HYPE
3. It takes 1 or few weeks to re-accumulate and prints new highs. Ex #LAB
Therefore, the first reaction after breaking ATH is No-Trading-Zone.
Bitcoin Magazine
#AKE is a new LAB Parabola move should start soon.