The monthly review of $ZETA on 30D shows an overall relatively strong structure. The stage path given by the program is consolidation, mild upward movement, consolidation, and clear expansion. During the cycle, price completed the transition from consolidation to expansion, and is currently at a relatively high position within the observation range.

In terms of price, the cycle price change is +92.75%, with the current price at 0.06031, the cycle low at 0.03109, and the cycle high at 0.0706. The current range position is 74.0%. The trajectory from the low to the high corresponds to the stage path. A relatively high position means the price is already near the upper boundary of this cycle; this position only describes the coordinate and does not imply a directional judgment.

The position side changed even more directly. Current position amount is 8.38M, with cycle position change of +719.05%, indicating a clear expansion in holdings. Trading activity also matched this move, with recent turnover at 374.65M and recent turnover changing by +3585.81% versus the previous observation window, showing a significant increase in trading volume. The synchronized expansion in holdings and turnover indicates that participation scale in this cycle has risen materially compared with the previous stage.

As for the funding rate, the current funding rate is -0.0344%, which is clearly negative. This state is only an objective description of the rate itself and does not extend to any judgment about long-short dominance or sentiment bias.

The first PerpPulse record within the cycle appeared at 2026-09-21 06:00 UTC, when the stage was L1_WATCH and the recorded price was 0.06185. After the first record, the objectively highest price change was +14.15%. This is presented only as a record that has already occurred, used to mark the point when the program began tracking within this cycle, and does not constitute attribution for subsequent price action.

Further observation will focus on whether holdings maintain the current expansion magnitude, whether the increase in turnover continues, and whether the funding rate can return from a negative state to a normal range. The direction of change in these data will determine the structural description in the next review.

Complete anomaly data: perppulse.xyz