Binance's QQQUSDT perpetual showed more seller-initiated than buyer-initiated volume in an Oct. 21 hourly reading, although most tracked accounts held long positions, showing a divide between trading activity and account positioning.
A separate price snapshot listed the contract at $722.26, up 0.81% over 24 hours. Its quoted low for that period was $711.92, and its high was $726.40.
Separately, Binance data for a one-hour reading at 5 a.m. ET (09:00 UTC) Oct. 21 recorded 3,168 taker-sell contracts, compared with 2,180 taker-buy contracts. Seller-initiated trades accounted for about 59% of the combined volume.
Binance's positioning figures for that time put 68.3% of global accounts on the long side and 31.7% on the short side. Among top-trader accounts, the split was 65.7% long to 34.3% short.
The figures measure different activity. Account ratios describe how accounts were positioned; taker volume counts contracts traded during the hour by the side that initiated each trade. The larger share of long accounts therefore does not establish that buyers initiated more trades in that period.
The $722.26 quote exceeded the seven-day simple moving average of $718.02. It remained below four other listed benchmarks, from the 12-period exponential average of $727.07 to the 20-day simple average of $738.85. Between those levels, the 50-day simple average stood at $730.98 and the 26-period exponential average at $732.23.
The underlying fund, Invesco QQQ Trust Series 1 (QQQ), is designed to follow the Nasdaq-100 Index. QQQUSDT is a perpetual derivative settled in Tether (USDT) and traded around the clock. Its quote represents the contract, rather than a regular-session price for a QQQ share.
In an earlier EconoTimes reading of QQQUSDT, all five tracked averages were higher than the contract, ranging from $731.03 to $745.83. The Oct. 21 snapshot placed it above one of the five.
