HEMI seems like it got an acceleration button today: up about 37% in 24 hours, while contract positions are actually pulling back. The gainers list is setting off fireworks, but the positions table looks like it’s packing up early.
In the past 24 hours, trading volume surged to 134 million USDT, and the price even touched a high of 0.011182. Just looking at these two numbers, it’s easy to think the capital has suddenly changed its faith all at once.
But over the last 3 hours, open interest by the underlying amount dropped from 1.477 billion to 1.468 billion—down roughly 0.6%. The value of positions fell from 15.79 million to 15.59 million—down about 1.2% instead.
The more the price surges, the more the positions retreat—what’s the trading logic behind that?
A more likely explanation is: spot trading and short-term rotation push the price up first, but the derivatives capital just stands by the door watching the commotion, not truly treating HEMI as a long-term main storyline to follow. Active buys and sells fluctuate between 0.72 and 1.50—there is buy-side interest, but it hasn’t become stable enough to take over the market.
The project team’s positioning for HEMI is very grand: connecting Bitcoin’s security with Ethereum’s programmability. The story can be huge, but positions won’t play along. Today’s tape only proves trading is hot—it doesn’t prove that fundamentals have already turned around.
Next, don’t just keep watching whether it can surge a few more percentage points. Instead, pay attention when it retraces: will OI increase again? If it keeps dropping, it looks more like rotation being lifted; if it rebounds, that’s more like a new narrative starting. Which do you think it will be?
$HEMI #HEMI #contract data
In the past 24 hours, trading volume surged to 134 million USDT, and the price even touched a high of 0.011182. Just looking at these two numbers, it’s easy to think the capital has suddenly changed its faith all at once.
But over the last 3 hours, open interest by the underlying amount dropped from 1.477 billion to 1.468 billion—down roughly 0.6%. The value of positions fell from 15.79 million to 15.59 million—down about 1.2% instead.
The more the price surges, the more the positions retreat—what’s the trading logic behind that?
A more likely explanation is: spot trading and short-term rotation push the price up first, but the derivatives capital just stands by the door watching the commotion, not truly treating HEMI as a long-term main storyline to follow. Active buys and sells fluctuate between 0.72 and 1.50—there is buy-side interest, but it hasn’t become stable enough to take over the market.
The project team’s positioning for HEMI is very grand: connecting Bitcoin’s security with Ethereum’s programmability. The story can be huge, but positions won’t play along. Today’s tape only proves trading is hot—it doesn’t prove that fundamentals have already turned around.
Next, don’t just keep watching whether it can surge a few more percentage points. Instead, pay attention when it retraces: will OI increase again? If it keeps dropping, it looks more like rotation being lifted; if it rebounds, that’s more like a new narrative starting. Which do you think it will be?
$HEMI #HEMI #contract data
