Funds are rapidly flowing into small-cap social media narrative tokens. $STEEM 24-hour peak gain was about 80%, and on-chain and contract data show three signals worth watching: open interest has increased significantly, the volume/market cap ratio has exceeded 2x, and liquidity has expanded rapidly; meanwhile, its market cap is still about 34 million USDT, with 24-hour trading volume nearing 49.43 million USDT, indicating a relatively high concentration of short-term funds.
Small market cap combined with high turnover can easily trigger a rapid surge, but it also means volatility will be amplified. The current price is about 0.06086 USDT; if trading volume cannot be sustained later, caution is needed for sharp pullbacks caused by profit-taking. For short-term trading, it is more suitable to track with a small position, and blindly chasing higher prices is not recommended.
#STEEM #altcoin
Small market cap combined with high turnover can easily trigger a rapid surge, but it also means volatility will be amplified. The current price is about 0.06086 USDT; if trading volume cannot be sustained later, caution is needed for sharp pullbacks caused by profit-taking. For short-term trading, it is more suitable to track with a small position, and blindly chasing higher prices is not recommended.
#STEEM #altcoin