AIO has jumped nearly 25% in 24 hours, but what’s really interesting isn’t the price—it’s the trading structure.
Some on-chain observers say that Alpha spot trading volume is only $1.42 million, while derivatives trading volume is $75 million, and they haven’t seen withdrawals from CEX yet. If that’s true, this rally looks more like derivative funds are being used to pull it up—not spot buyers accumulating.
This claim hasn’t been confirmed by multiple sources yet, but it does line up with the positioning data: AIO open interest increased by 42.7%, the funding rate is strongly positive, and the longs are opening with real conviction.
On the other hand, short-term signals are starting to conflict. Someone called a bearish warning on the 30-minute chart, and on the 15-minute chart it even dropped onto the losers’ leaderboard. Hype has doubled, and sentiment has been one-sidedly bullish—eventually someone has to ask.
So the question is: In this move, is AIO being dominated and pumped by a main futures contract, or is it the newly launched spot token that’s genuinely incredible?
Some on-chain observers say that Alpha spot trading volume is only $1.42 million, while derivatives trading volume is $75 million, and they haven’t seen withdrawals from CEX yet. If that’s true, this rally looks more like derivative funds are being used to pull it up—not spot buyers accumulating.
This claim hasn’t been confirmed by multiple sources yet, but it does line up with the positioning data: AIO open interest increased by 42.7%, the funding rate is strongly positive, and the longs are opening with real conviction.
On the other hand, short-term signals are starting to conflict. Someone called a bearish warning on the 30-minute chart, and on the 15-minute chart it even dropped onto the losers’ leaderboard. Hype has doubled, and sentiment has been one-sidedly bullish—eventually someone has to ask.
So the question is: In this move, is AIO being dominated and pumped by a main futures contract, or is it the newly launched spot token that’s genuinely incredible?