This morning’s order book indicates a bullish bias.
The three contracts KERNEL, MUBARAK, and ZRO have all been moving in the same direction this morning’s order book, with prices rising across the board. Open interest has also clearly increased over the past 24 hours. Combined with the publicly available data showing signs of “accumulation of positions closing,” the next focus is whether the growth rate of these coins’ open interest can continue, and whether active buy orders will keep holding an advantage.
KERNEL is currently quoted at 0.05883, with a 20.48% gain over the last 24 hours. Open interest over the past 24 hours has surged by 159.1%. The funding rate is negative at -1.3621%, and it has been paying shorts for 8 consecutive rounds. Open interest doubling within 24 hours suggests a dense inflow of new positions. A negative funding rate together with multiple consecutive rounds of short-side funding payments suggests this set of signals falls under the category of “possible short squeeze.” The counterpoint is that open interest over the last 1 hour is declining. Whether the price can withstand the pressure from short-side funding still needs to be assessed—specifically, whether open interest can rebound again over the next few hours.
MUBARAK is quoted at 0.07477, with a 70.05% increase over the last 24 hours, the highest among the three. Open interest over the past 24 hours increased by 155.2%, and trading volume reached $823 million, the largest funding amount among them. Such large trading combined with such a high rally suggests very high market participation, with volume truly following through. The counterpoint is that the long/short account ratio is only 0.73, and long accounts account for 42%, indicating that among retail traders there are actually more participants positioning for short—this doesn’t fully align with the strength of the price.
ZRO is quoted at 1.3748, with a 15.81% gain over the last 24 hours. Open interest over the past 24 hours increased by 26.8%, and both the price gain and open-interest increase are the mildest of the three. The large-trader long/short ratio is 5.77, clearly tilted toward the long side. From a technical standpoint, it is in an upward trend. The counterpoint is that open interest over the last 1 hour has also edged down slightly. The pace of incremental capital entering is slower than the other two coins; whether this line stays steady still depends on whether open interest can continue rising.
If over the next few hours the open-interest growth rate for these coins keeps accelerating and active buy orders continue to dominate, this trend line should continue. If open interest turns downward and shrinks, and the funding rate (especially the short-side funding for KERNEL) clearly narrows or turns positive, then this direction will need to be reconsidered.
This content was generated with assistance from Claude Fable 5 and is for informational reference only—please verify independently.
The three contracts KERNEL, MUBARAK, and ZRO have all been moving in the same direction this morning’s order book, with prices rising across the board. Open interest has also clearly increased over the past 24 hours. Combined with the publicly available data showing signs of “accumulation of positions closing,” the next focus is whether the growth rate of these coins’ open interest can continue, and whether active buy orders will keep holding an advantage.
KERNEL is currently quoted at 0.05883, with a 20.48% gain over the last 24 hours. Open interest over the past 24 hours has surged by 159.1%. The funding rate is negative at -1.3621%, and it has been paying shorts for 8 consecutive rounds. Open interest doubling within 24 hours suggests a dense inflow of new positions. A negative funding rate together with multiple consecutive rounds of short-side funding payments suggests this set of signals falls under the category of “possible short squeeze.” The counterpoint is that open interest over the last 1 hour is declining. Whether the price can withstand the pressure from short-side funding still needs to be assessed—specifically, whether open interest can rebound again over the next few hours.
MUBARAK is quoted at 0.07477, with a 70.05% increase over the last 24 hours, the highest among the three. Open interest over the past 24 hours increased by 155.2%, and trading volume reached $823 million, the largest funding amount among them. Such large trading combined with such a high rally suggests very high market participation, with volume truly following through. The counterpoint is that the long/short account ratio is only 0.73, and long accounts account for 42%, indicating that among retail traders there are actually more participants positioning for short—this doesn’t fully align with the strength of the price.
ZRO is quoted at 1.3748, with a 15.81% gain over the last 24 hours. Open interest over the past 24 hours increased by 26.8%, and both the price gain and open-interest increase are the mildest of the three. The large-trader long/short ratio is 5.77, clearly tilted toward the long side. From a technical standpoint, it is in an upward trend. The counterpoint is that open interest over the last 1 hour has also edged down slightly. The pace of incremental capital entering is slower than the other two coins; whether this line stays steady still depends on whether open interest can continue rising.
If over the next few hours the open-interest growth rate for these coins keeps accelerating and active buy orders continue to dominate, this trend line should continue. If open interest turns downward and shrinks, and the funding rate (especially the short-side funding for KERNEL) clearly narrows or turns positive, then this direction will need to be reconsidered.
This content was generated with assistance from Claude Fable 5 and is for informational reference only—please verify independently.
