What’s strange is that this message isn’t at all hot, yet the “flavor” is heavier than many pump-news stories.
A company that’s still slowly buying—just the last little slice away from taking down 5% of the $ETH supply—yet the comments section didn’t really blow up.
I’ve been checking back and forth on the subway twice.
Buying the same thing for more than 60 straight weeks—usually the market thinks it’s boring at first. By the time people truly react, the chips have already been moved away bit by bit by someone.
The order book also feels a bit awkward.
$ETH is now at 2464.96, up only 1.288% over the past 24 hours, and the intraday high is merely 2473.3—it doesn’t look fierce.
But contract volume is already 3034.45M, while spot volume is only 293.06M. Most of the excitement is happening on the leverage side.
The funding rate is only +0.0077%—not hot at all—yet there are 2,375,608 units of $ETH sitting in open positions.
This feels like a lot of people have already staked their claim, but the urgency to push it higher hasn’t fully been lit.
Take a look at $BTC too—it’s pretty similar.
$BTC is hovering around 78686, up 1.4% in the past 24 hours, funding rate +0.01%, and contract volume is 9.5x the spot.
The big BTC isn’t going crazy, and the small caps aren’t collectively running wild. Instead, it gives $ETH ’s “continuously being bought” story room to ferment.
I’m leaning bullish on this.
Not saying it’s about to take off tomorrow, but I feel that this kind of weekly buying action is stronger than just shouting about ecosystems and narratives.
If you really want to pick at it, there are also points.
BitMine is buying more slowly now than before. The closer it gets to the 5% target, the marginal impact later on may not be as intense as it was earlier.
If $BTC turns and drops first, with the contract book this heavy, $ETH would also be hard to carry on its own.
If I were doing it, I’d keep holding the spot version of $ETH and not chase high-multiplier contracts.
This kind of slow repositioning takes patience—but it’s also the easiest way to shake off people who don’t have the patience.
If it goes wrong, don’t cue me. If it goes right, buy me a cup of coffee.
$BTC $ETH
#ETH生态 #BinanceSquare
A company that’s still slowly buying—just the last little slice away from taking down 5% of the $ETH supply—yet the comments section didn’t really blow up.
I’ve been checking back and forth on the subway twice.
Buying the same thing for more than 60 straight weeks—usually the market thinks it’s boring at first. By the time people truly react, the chips have already been moved away bit by bit by someone.
The order book also feels a bit awkward.
$ETH is now at 2464.96, up only 1.288% over the past 24 hours, and the intraday high is merely 2473.3—it doesn’t look fierce.
But contract volume is already 3034.45M, while spot volume is only 293.06M. Most of the excitement is happening on the leverage side.
The funding rate is only +0.0077%—not hot at all—yet there are 2,375,608 units of $ETH sitting in open positions.
This feels like a lot of people have already staked their claim, but the urgency to push it higher hasn’t fully been lit.
Take a look at $BTC too—it’s pretty similar.
$BTC is hovering around 78686, up 1.4% in the past 24 hours, funding rate +0.01%, and contract volume is 9.5x the spot.
The big BTC isn’t going crazy, and the small caps aren’t collectively running wild. Instead, it gives $ETH ’s “continuously being bought” story room to ferment.
I’m leaning bullish on this.
Not saying it’s about to take off tomorrow, but I feel that this kind of weekly buying action is stronger than just shouting about ecosystems and narratives.
If you really want to pick at it, there are also points.
BitMine is buying more slowly now than before. The closer it gets to the 5% target, the marginal impact later on may not be as intense as it was earlier.
If $BTC turns and drops first, with the contract book this heavy, $ETH would also be hard to carry on its own.
If I were doing it, I’d keep holding the spot version of $ETH and not chase high-multiplier contracts.
This kind of slow repositioning takes patience—but it’s also the easiest way to shake off people who don’t have the patience.
If it goes wrong, don’t cue me. If it goes right, buy me a cup of coffee.
$BTC $ETH
#ETH生态 #BinanceSquare