Chip has had a solid run over the past two days, but it doesn’t have much room for imagination!
First, because $CHIP has listed on 8 spot exchanges and 10 futures exchanges, liquidity is spread out—adjustments are far from complete.
And the most consistent thing is that futures open interest has been increasing, but there’s not much activity on-chain. In other words, during this past rise, the futures were pushed up without the spot market moving much.
What’s more worth noting is that today the futures trading volume jumped a lot. After the first two times when futures trading volume spiked sharply, there were big pullbacks afterward. You can compare these time points in the chart with the candlestick chart yourself.
If there’s any time worth paying attention to, I’d guess bigger opportunities will come around next year.
#CHİP
Follow me to dig into big-money/“whale” coins and high-multiple coins
First, because $CHIP has listed on 8 spot exchanges and 10 futures exchanges, liquidity is spread out—adjustments are far from complete.
And the most consistent thing is that futures open interest has been increasing, but there’s not much activity on-chain. In other words, during this past rise, the futures were pushed up without the spot market moving much.
What’s more worth noting is that today the futures trading volume jumped a lot. After the first two times when futures trading volume spiked sharply, there were big pullbacks afterward. You can compare these time points in the chart with the candlestick chart yourself.
If there’s any time worth paying attention to, I’d guess bigger opportunities will come around next year.
#CHİP
Follow me to dig into big-money/“whale” coins and high-multiple coins
