Short sellers of crypto stocks have clocked about 126% in mark-to-market gains this year, far outpacing those from other sectors, according to financial and analytics firm S3 Partners, amid a risk-off sentiment in the broader equities market.
Short sellers, who bet on a stock’s decline, have an average short interest of $3 billion on the sector, according to S3. Shares in Coinbase and software developer Microstrategy Inc have dropped 78.6% and 69% so far this year. Short interest as a percentage of the company’s float stood at 15% for Coinbase and 27.5% for Microstrategy, according to S3.
Source: Digital Coin News (digitalcoinnews.net)
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