span

The wick counts.

CA: EG7VdiyunkAypzemjTuYEjkfZUWfwTnrLBTFPxSURxJY

[span @spancandle]

span 1.22.0: you no longer need SPAN before you buy.

A span candle is read on chain every five minutes, and the price goes further between reads. SPAN is how a ticket keeps those wicks: each reading that raises the payout burns a set amount from it, and what isn't burned comes back at settlement.

Loading it used to mean holding SPAN first. Now, when your wallet holds less than the load, the purchase swaps USDC for SPAN through Jupiter and loads it in the same transaction: 0.01 USDC for the usual load, more only when a load needs it. The confirmation shows the USDC and the least SPAN it brings, and what isn't loaded stays in your wallet. Bids, requests and Load SPAN in Your tickets do the same.

On Ticket now, a 2% SOL ticket on Monday's open: span's replays of past opens paid 1.51 USDC on average with SPAN, 0.98 on the reads alone.

The site changed. The program didn't: the same verified build as 1.20.0.

A cent of SPAN for half a dollar of wick, on average. Load it with the purchase.

[span @spancandle]

SOL fell 24% from Nov 8's first price to Saturday's low at 8:45 pm New York time. Its widest hour of the week came next, and it went up.

On Binance's bars, the hour from 9 pm ran 5.92% high to low and closed 5.14% higher. BTC's widest hour was the same one: 4.19%, up 3.63%. In a week SOL ended 20% down, 74 of its 168 hours closed green.

A span ticket is paid on how far its hour runs past its length, high to low, up to 40 USDC. Direction isn't one of its inputs.

Shorting SOL into the next drop? Last week's widest hour went against every short. A span ticket has no side to be wrong on.

[span @spancandle]

When crypto falls, its hours run wider than when it rises.

On Binance's hourly bars since January 2025, SOL fell more than 7% in 19 weeks and rose more than 7% in 19. In the middle falling week, 21 of its hours ran past 2% high to low. In the middle rising week, 14. In the weeks between, 10. BTC: 9 in a falling week, 2 in a rising one.

Last week SOL fell 20.4%, and 21 of its hours ran past 2%.

A span ticket pays on how far its hour runs past its length, whichever way the price goes.

Riding out a red week in SOL? Those are the weeks its hours run widest, and width is what a ticket is paid on.

[span @spancandle]

Bitcoin's hours agree with you. On Binance's hourly bars, 7 BTC hours ran past 2% high to low last week, Nov 8 to 14. All 744 of October's hours had 3. The median hour went from 0.37% to 0.64%.

October was the boring part: its median hour tied for 2026's lowest.

On span, a BTC ticket pays on how far its hour runs past its length, up to 40 USDC. Anyone who still calls Bitcoin boring can sell one, and keeps the premium if the hour stays inside.

[Cantonese Cat 🐱🐈 @cantonmeow]

Whoever says that #Bitcoin is now boring and has reduced volatility because of institutional involvement and large market cap needs to have their heads examined.

[span @spancandle]

Crypto's loudest hour on a Sunday starts at 6 pm New York time, as US stock futures reopen.

On Binance's hourly bars, SOL's hour from 18:00 ET ran a median 1.50% high to low on 2026's 45 Sundays. Sunday's hours from 9 am to 5 pm ran 0.67%, Saturday's 6 pm 0.55%. BTC: 0.89% against 0.36%. ETH: 1.21% against 0.53%. Last Sunday's 6 pm: SOL 2.35%, BTC 1.73%, ETH 2.27%.

span lists nothing tonight. A seller can open it anyway: on Sell, Another hour, today, 18:00 ET, then SOL, BTC or ETH, 30m or 1h. It sells on Ticket like a listed hour.

Opening it at 2%? SOL's 6 pm ran past that on 10 of 45 Sundays. Ask a premium that pays for those 10.

[span @spancandle]

Reasons offered since Friday for crypto's drop: margin calls on Nvidia, liquidity that's "gone", ETF outflows.

Everything span's program knows about the market fits in one struct with two fields: a price, and the second DOVES published it.

A ticket is paid on that price alone: how far the candle runs past its length, high to low. Whichever reason was right never reaches it.

Still picking a reason? Pick a length instead. It's the only part of your view a ticket pays on.

[span @spancandle]

Holding SOL into Monday's open, after the weekend it's had?

1,000 USDC of SOL moves 10 USDC with each 1%. A span ticket whose seller set it to reach 40 USDC 4% past its length moves the same 10 for each 1% its hour runs past that length, high to low, either way.

Take one at 2%, SPAN loaded. If the open drops 5%, the bag is down 50 and the ticket pays at least 30. If SOL climbs back before 10:29 ET, the bag recovers and the ticket still pays: the hour ran 5%. If Monday rips 5% instead, the ticket pays the same.

What it costs is the premium, gone if the hour stays inside 2%. Nothing on sale at your length yet? A request on Ticket asks for one at your price.

Taking SOL through the open? Buy a ticket for every 1,000 USDC you hold, at the length where a drop starts to hurt.

[span @spancandle]

A price read every five minutes misses its own high. Broadie, Glasserman and Kou sized the miss in 1999: on a random walk, the highest read falls short of the true high by about 0.58 × σ × √Δt on average, σ the volatility and Δt the time between reads. The low misses as much. The louder the price, the more the reads leave out.

span reads each candle from DOVES every five minutes. Three of this week's, high to low:
SOL, Friday's PPI 30m: 1.58% on the reads, 2.15% on DOVES
BTC, same 30m: 1.12% and 1.49%
SOL, Wednesday's open: 0.78% and 1.00%

SPAN keeps what the reads miss: each reading that raises the payout burns a fixed amount, and the rest comes back at settlement. A louder hour raises it more often.

Ticket shows how many burns a load covers. Buying an hour because you expect it to run? Load for that hour, not a quiet one.

https://t.co/1hZV8w6hLp

[span @spancandle]

span shipped seven releases in eight days, Nov 6 to Nov 13. Three of them changed the program, each a verified build.

What a ticket can do now that it couldn't on Nov 5:
- take bids while its hour runs, not only an asking price
- run 30 minutes instead of the hour
- be asked for, at a buyer's length and price, when nobody has listed one
- spend its SPAN as wicks come, or hold part of it back for later in the candle
- reach 40 USDC at 1%, 2% or 4% past its length, as the seller sets
- open from a link of its own
- load its SPAN in the same purchase, swapped from USDC

Next week is the first with all seven: 36 candles, the US open every morning and Nvidia's results on Tuesday, each 30m and 1h on SOL, BTC and ETH.

Found nothing at your length last week, or no SPAN in the wallet? Ask for the length at your price. The SPAN comes in the same transaction.

[span @spancandle]

That last line is the whole thing, and this weekend made your example real: SOL is 10.5% under Friday's close.

So Monday's open is where it becomes a choice. If all you think is that a weekend like this doesn't end quietly, you don't have to pick a side or survive the next leg to act on it. You pay for the candle, and that's the most it can cost you.

[span @spancandle]

Each of next week's opens on span is two candles: 30m to 09:59 ET and 1h to 10:29.

On Binance's prices since July, SOL's 30m reached a median 79% of the 1h's high to low. Past a 1% length it's a different split: 0.27% on average against the 1h's 0.65%, or 42%. The 30m got past 1% on 40 of 96 mornings, the 1h on 71. BTC: 32%. ETH: 42%.

A span ticket is paid on how far its candle runs past its length, up to 40 USDC, and most of that distance came after 09:59.

Pricing a 30m at four-fifths of the 1h at the same length? The record says closer to two-fifths.

[span @spancandle]

This weekend, a perp can get funding every 8 hours, a margin call, and a liquidation at 3 a.m.

A span ticket can get nothing. No candle is open until Monday 09:29 ET, and when one is, the most a buyer can lose is the premium already paid.

On Binance, SOL is down 8.9% from Friday's 4 pm ET price, BTC 5.1%, ETH 6.2%. Want the move without the margin call? Monday's open is the next hour on span's list.

[span @spancandle]

Nothing is on sale on Monday's open yet. A request buys it anyway.

On Ticket, pick US open · Nov 16, SOL, 1h. With no ticket listed, the panel is a request: your length, your price, how long it stands. At 2% and 1.50 USDC, Ticket shows the rest before anything is sent: break-even at 2.15%, 1.50 gone if SOL sits still. SPAN loads with it, swapped from USDC in the same transaction if your wallet is short.

A seller who takes it opens the ticket at your length and price, and it's yours.

Pricing it? At 2%, Book's last 19 replayed opens paid 1.51 on average. A request near that is one a seller can say yes to.

[span @spancandle]

SOL is down 5.30% from Friday's 4 pm ET price, and the weekend isn't over.

Since 2024, 17 weekends took SOL down 5% or more by Monday's 09:29 ET. On Binance's prices, Monday's open hour after them ran a median 2.59% high to low, past 2% on 13. After the 40 weekends that moved under 2%, the median was 1.60%.

This year has had only two of those down weekends: Monday ran 2.50% and 1.64%.

span sells Monday's open as 30m and 1h candles on SOL, BTC and ETH, each paid on how far it runs past a ticket's length, up to 40 USDC.

Pricing Monday off a quiet week? This weekend hasn't been one.

[span @spancandle]

Price can come back. The range can't.

Tuesday's open on ETH: down to its low at 09:32 ET, up 1.8% to its high at 10:02, then all the way back. On Binance's minutes it closed the hour 0.04% from its first price, after running 1.84% high to low.

Where an hour ends can be undone right up to the last minute. How far it has run only ever grows. A span candle is that second number, and a ticket is paid on how far it gets past the ticket's length, up to 40 USDC.

[span @spancandle]

Pricing a ticket on Monday's open? Book on https://t.co/ZNin9cM3Ri has the record for it.

Set a length and it replays the hours on span's list at it. On SOL's 1h open, across the 19 opens span replays (Oct 2 to Oct 28), with SPAN loaded, a ticket paid on average:
1.50%: 2.66 USDC
2.00%: 1.51
2.50%: 0.94

That's the number to hold a premium against. A buyer paying more at that length is betting Monday runs bigger than those 19 mornings. A seller asking less is betting it runs smaller.

Open Book, set your length, read US OPEN.

[span @spancandle]

Seven hours were on span's list this week, each a candle on SOL, BTC and ETH: 21 candles.

On Binance's minutes, the middle one ran 1.65% high to low and ended 0.48% from where it began. Tuesday's open on SOL ran 1.95% and closed 0.02% under its first price. Friday's PPI hour on BTC ran 1.65% and closed 0.11% under.

A bet on where the hour ends got those 0.02 and 0.11. A span ticket is paid on how far the candle ran past its length, so an hour that hands the move back has still run.

Six more next week, from Monday's open. A ticket on any of them doesn't ask how it closes.

[span @spancandle]

span's hours next week, New York time:

Mon 09:29 US open
Tue 09:29 US open
Tue 16:19 Nvidia results
Wed 09:29 US open
Thu 09:29 US open, the morning Anthropic is set to list
Fri 09:29 US open

Each is a 30m and a 1h candle on SOL, BTC and ETH, 36 in all, and each pays on how far it runs past a ticket's length, up to 40 USDC.

The week's two headlines are Nvidia and Anthropic. Only Nvidia's is scheduled to land inside a span candle. Pick the hour for what lands in it, not for what the week is called.

[span @spancandle]

You found the part most people miss: when price drifts back after the print, the wick it left is still in the candle. Friday's PPI was that hour. BTC was over $70,000 nine minutes after the number and under its open by the end.

And the releases keep coming, as you said. The SPAN in that bag is what keeps those wicks on the candle.

[span @spancandle]

span's weekend schedule:

Fri 10:29 ET: last candle closes
Sat: —
Sun: —
Mon 09:29 ET: next candle opens

71 hours in which SOL can do anything it likes, and span's list has nothing on it.

A listed span candle opens a minute before a New York minute worth watching: a release, a decision, the bell. The weekend doesn't have one. The next is Monday's open, 30m and 1h on SOL, BTC and ETH.

Expecting your own Saturday? Sell › Another hour opens a candle on any five-minute mark through the end of the next day, New York time.

[span @spancandle]

The Fed's last hike, Sep 16, replayed on span: a 2% SOL ticket on the hour from 13:59 ET paid 0.00 on the five-minute reads. With SPAN loaded, 6.29 USDC.

The thirteen reads caught SOL 1.74% apart. Between them it went 2.63%. SPAN is what keeps that part: 10 readings raised the payout, each burning a set amount from the ticket, and what's left goes back at settlement.

Since 1.22.0 the SPAN comes with the purchase, swapped from USDC in the same transaction.

Dec 9's FOMC hour is on span. Without SPAN, a ticket is paid on thirteen snapshots of it. With it, on the wicks in between too.