Infinex ($INX ) is bouncing back more like a "liquidity expectation" being repriced: it’s up over 19% in the last 24 hours, and open interest has surged by 34.9%, indicating this isn’t just a simple spot pump, but leveraged funds are also jumping in at full throttle.
The current price is about $0.00779, with a 24-hour trading volume of 3.89 million and a circulating market cap of 15.54 million, still on the smaller side, so volatility will be quite pronounced. In the short term, the increase in the spot order book, the linkage with the Hyperliquid ecosystem, and the continuous growth in market maker revenues are the three main lines supporting sentiment.
Key things to watch: if open interest continues to rise but prices don’t drop, the trend might extend; however, if open interest spikes and prices stagnate, be cautious of crowded long positions pulling back. #Infinex #CryptoMarket
The current price is about $0.00779, with a 24-hour trading volume of 3.89 million and a circulating market cap of 15.54 million, still on the smaller side, so volatility will be quite pronounced. In the short term, the increase in the spot order book, the linkage with the Hyperliquid ecosystem, and the continuous growth in market maker revenues are the three main lines supporting sentiment.
Key things to watch: if open interest continues to rise but prices don’t drop, the trend might extend; however, if open interest spikes and prices stagnate, be cautious of crowded long positions pulling back. #Infinex #CryptoMarket