$USAR rose 4.25% over the past 24 hours, with the price reaching $17.88. In the absence of a specific catalyst on-chain, the macro backdrop to this move is more worth watching than the price action itself.
Political uncertainty in the U.S. election year is the key variable driving capital flows. Markets are pricing potential policy shifts that could result from the election outcome—especially in trade and regulatory areas. In this environment, funds tend to look for assets that are believed to benefit from certain policy scenarios, or at least ones that won’t be directly hit. Part of
$USAR ’s rally can be read as a reflection of this blend of risk-avoidance and speculation.
From the structure: its funding rate is 0, open interest is about 113,400 contracts, and 24-hour trading volume is roughly $4.13 million. A zero funding rate suggests that, around this price level, long and short forces have reached short-term equilibrium with no obvious one-way crowding. But combined with the price rise, this looks like a relatively mild upward structure—there hasn’t been excessive accumulation of positive funding costs from longs chasing aggressively. The open interest isn’t small either, indicating a meaningful portion of capital is holding positions and waiting for direction, rather than being short-term, in-and-out speculation.
The counterargument is also straightforward: if, over the next month, the policy platform of the leading candidates shows a clear turn—especially releasing clearer friendly signals to the crypto industry—then this uncertainty-based premium could quickly fade. At that point, support for tokens like
$USAR would no longer be as solid.
The second-order effect is that once this politically driven sector rotation starts, liquidity tends to spread along the chain of assets that are expected to benefit from policy changes. Some assets tied to specific backgrounds or concepts may be repriced. But it also means the entire narrative depends heavily on the election schedule and shifts in public sentiment, so volatility is likely to stay elevated.
My view is built on the single signal that political uncertainty continues to intensify. If, over the next two weeks, major polls or market prediction platforms show an overwhelming advantage for a particular candidate—leading to a drop in uncertainty—then this logic would break.
Action-wise, the current price and structure are suitable for monitoring. Aggressive scenario: if clear political developments emerge indicating a favorable move toward easing regulation for specific industries, and
$USAR ’s open interest expands while the funding rate turns positive, I would consider cautiously adding exposure, provided the price can hold above the current range. Conservative scenario: before political signals become clear, I would observe with current positioning and not chase.
Trading tag:
#TradFi #链上美股 #USAR
Where do you think this view is most likely to be wrong?