The currency $SIREN jumps rocket-like 127% amid a surge in demand
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% reaching $2.34 on Monday morning, recording the best daily performance among cryptocurrencies, according to CoinGecko data. The price stabilized at $2.19 at the time of writing, with a market cap of $1.56 billion, making it the 50th largest cryptocurrency by market size.
It seems that the increase was due to rising demand for the currency in the futures market, as Coinglass data showed open interest in SIREN contracts rose by 120% to reach $121 million within 24 hours, with long trades outpacing short ones, reflecting traders' optimism.
It is noted that the currency had recorded its highest level at $3.61 on March 22 after being rebranded as an independent AI agent on the BNB Chain and listing perpetual contracts on major exchanges such as Binance, Bybit, and MEXC, but it later dropped by more than 70% due to the concentration of supply among a limited number of investors, making any potential upward wave susceptible to a quick correction.
In contrast, the Thane, India peace court granted bail to the founders of the CoinDCX platform, Sumit Surendra Gupta and Niraj Ashok Khandelwal, after a fraud complaint related to a fake platform impersonating the original platform. The court confirmed that there was no preliminary case against the founders, indicating that the fraud was perpetrated by a third party. Each founder was released on bail of 50,000 Indian Rupees with a commitment to full cooperation.
by
% reaching $2.34 on Monday morning, recording the best daily performance among cryptocurrencies, according to CoinGecko data. The price stabilized at $2.19 at the time of writing, with a market cap of $1.56 billion, making it the 50th largest cryptocurrency by market size.
It seems that the increase was due to rising demand for the currency in the futures market, as Coinglass data showed open interest in SIREN contracts rose by 120% to reach $121 million within 24 hours, with long trades outpacing short ones, reflecting traders' optimism.
It is noted that the currency had recorded its highest level at $3.61 on March 22 after being rebranded as an independent AI agent on the BNB Chain and listing perpetual contracts on major exchanges such as Binance, Bybit, and MEXC, but it later dropped by more than 70% due to the concentration of supply among a limited number of investors, making any potential upward wave susceptible to a quick correction.
In contrast, the Thane, India peace court granted bail to the founders of the CoinDCX platform, Sumit Surendra Gupta and Niraj Ashok Khandelwal, after a fraud complaint related to a fake platform impersonating the original platform. The court confirmed that there was no preliminary case against the founders, indicating that the fraud was perpetrated by a third party. Each founder was released on bail of 50,000 Indian Rupees with a commitment to full cooperation.
