CoinEx News: TAIKO traded near $0.379 on CoinEx on July 2, up about 320% over 24 hours, while CoinGlass showed TAIKO contracts sitting near the bottom of the funding-rate table at roughly -2.5% to -2.0%. After Taiko said its bridge had reopened, CEX deposits still had not broadly reopened, limiting fresh spot inflows and making it harder for shorts to source tokens quickly.

That setup makes the move look less like a normal recovery rally and more like a squeeze-driven rebound, with the next test being whether deposit channels reopen before leveraged shorts finish covering.