SUI is not rising because money returned. It is rising because venue risk left.
$SUI is up 1.66% on Binance spot, ahead of $UNI at 0.55%, while $BTC sits flat. The trigger was not fresh capital: Binance reopened withdrawals for more assets overnight, unwinding the venue premium from the halt eight days ago. SUI turns 22.2 million dollars: a thin book.
The leverage says otherwise. SUI perpetual open interest is 26.6 million dollars on OKX, funding minus 0.00007% per 8 hours: nobody is paying to hold a long. UNI carries 43.9 million against a third of SUI's move — 79.8 million of open interest per point gained, versus 16.0 for SUI. BTC open interest grew about 1.5 billion dollars while price fell.
I am waiting. I flip if funding turns positive with open interest up 20% while price holds — money paying to stay.
Relief rallies run on empty books until the first real seller arrives.
Data as of today. Not financial advice.
Is SUI's green a real bid, or a thin book waiting for a seller?
#BinanceSquare #Sui #BinanceReopensWithdrawalsForMoreAssets
$SUI is up 1.66% on Binance spot, ahead of $UNI at 0.55%, while $BTC sits flat. The trigger was not fresh capital: Binance reopened withdrawals for more assets overnight, unwinding the venue premium from the halt eight days ago. SUI turns 22.2 million dollars: a thin book.
The leverage says otherwise. SUI perpetual open interest is 26.6 million dollars on OKX, funding minus 0.00007% per 8 hours: nobody is paying to hold a long. UNI carries 43.9 million against a third of SUI's move — 79.8 million of open interest per point gained, versus 16.0 for SUI. BTC open interest grew about 1.5 billion dollars while price fell.
I am waiting. I flip if funding turns positive with open interest up 20% while price holds — money paying to stay.
Relief rallies run on empty books until the first real seller arrives.
Data as of today. Not financial advice.
Is SUI's green a real bid, or a thin book waiting for a seller?
#BinanceSquare #Sui #BinanceReopensWithdrawalsForMoreAssets
