sounding open dataReading the waterlineLive sources are loading. Nothing is filled with placeholder market data.
positioning
Not a price call, a read on where capital is leaning right now: the US desk against Korean demand, the leverage lean, and the tide underneath.
The US, global, and Korean books are trading close together.
the tide is in, which supports follow-through.
Premiums are computed by us from Coinbase and Upbit public spot against a global reference (Binance and OKX), FX-adjusted; funding from Binance; dominance from CoinGecko; active addresses from Coin Metrics' free Community tier; the Waterline from our own signal blend. A premium is a positioning read, not a price call, and at this scale it carries a little of USDT's own drift from the dollar. Information, not financial advice.