ONG was up 37% over the past 24 hours, with trading volume of $318 million, ranking near the top of the all-network gainers list.

Rallies are not just shouted—they are backed by the futures market. It has sent three signals:

1, Chips are flowing in with real money. The total open interest across the whole network increased by 69.9% in 24 hours, reaching $29.85 million. Binance accounts for 45.9%, up 65.3% in 24 hours; Bybit is up 67.5%; Aster’s open interest surged 35x in a single day, rising from 25,000 to $877,000.

2, The shorts are getting beaten up continuously. ONGs total liquidations across the whole network hit $1.24 million, of which $719,000 were shorts, or 57.8%. In three cycles—1 hour, 4 hours, and 12 hours—the short share is 75.1%, 64.4%, and 59.5% respectively, and from short to long cycles, shorts have consistently been the side being liquidated.

, Sentiment hasn’t overheated. The 11th average funding rate is 0.0032%, and Binance and MEXC are still negative. The price is up 37%, but the funding rate hasn’t gone crazy—suggesting this leg higher isn’t built purely by leverage piling in.

Among 318 million-dollar-class trades, ONG ranks among the top today. Open interest is up 70% in a day, shorts have been liquidated by nearly 60%, and the funding rate is still negative—this kind of setup isn’t seen often on the gainers list.

Data page: coinboss.com/liquidations

$ONG $BTC