$VELVET short-term traders should observe first and don’t chase the rally. A complete Binance USDⓈ-M USDT perpetual scan at 07:02 Beijing time covered 526/526 contracts within the eligible range. VELVET is ranked 2nd by percentage gain: +45.838% over the past 24 hours. Current price: 0.08743. Approx. trading volume: $36.46 million. Compared with the 3rd place from the initial scan at 06:02 (+37.683%), price 0.08188, and $28.92 million volume, the rank has risen by 1 position; the gain increased by 8.155 percentage points; and volume is up about 26%. This is a new expansion in volume and price, but the leaderboard only indicates the strength of the volatility—not the direction.
The path is more worth watching than a single percentage jump. The completed hour closes for 03:00–04:00, 04:00–05:00, 05:00–06:00, and 06:00–07:00 are, in order: 0.07440, 0.07800, 0.08113, 0.08866. Corresponding USDT trading volume is about $3.91M, $5.93M, $6.98M, and $7.33M—both price and trading activity are rising together. The highest price in the last hour was 0.08880, and the 07:11 quote is 0.08823, which is about 0.49% below the hour close. The 07:00–08:00 hour is not complete yet, so you can’t write the current pullback or high-side quote as a “close confirmation.” The most recent completed-hour low at 0.08091 can be used as a structural observation level—not a stop-loss instruction.
Derivatives data is expanding too: Binance hourly open interest (OI) units rose from about 68.46 million at 02:00 to about 80.05 million at 07:00, an increase of roughly 16.9%. This means the size of open contracts has grown, but it can’t distinguish long vs. short direction, and it doesn’t equal net capital inflow. The most recently confirmable funding rate at the 04:00 settlement is +0.007947% per 4 hours; the 08:00 settlement hasn’t happened yet, so the estimate shouldn’t be treated as the result. The bid-ask spread on the order book at 07:04 is about 2.27 basis points, but the top-100 static depth is roughly $684k (buyers) and $1.341M (sellers). A thin order book may involve cancellations; you can’t infer sustained sell pressure or true execution support from this alone.
I cross-checked Binance announcements and Velvet’s official blog: I can confirm the project identity and the existing activity plan, but I didn’t find any near-term new catalyst that directly explains this sudden surge; older announcements can’t be treated as the cause. Next, observe whether the complete 07:00–08:00 hour can hold the gains, whether the actual funding rate at 08:00 matches expectations, and how price reacts to the 0.08880 peak and the 0.08091 prior low. If volume weakens or the hour falls back into the range, the current acceleration should be downgraded in interpretation. Market moves quickly—once the ranking and price levels become invalid, they should be rechecked. #VELVET
The path is more worth watching than a single percentage jump. The completed hour closes for 03:00–04:00, 04:00–05:00, 05:00–06:00, and 06:00–07:00 are, in order: 0.07440, 0.07800, 0.08113, 0.08866. Corresponding USDT trading volume is about $3.91M, $5.93M, $6.98M, and $7.33M—both price and trading activity are rising together. The highest price in the last hour was 0.08880, and the 07:11 quote is 0.08823, which is about 0.49% below the hour close. The 07:00–08:00 hour is not complete yet, so you can’t write the current pullback or high-side quote as a “close confirmation.” The most recent completed-hour low at 0.08091 can be used as a structural observation level—not a stop-loss instruction.
Derivatives data is expanding too: Binance hourly open interest (OI) units rose from about 68.46 million at 02:00 to about 80.05 million at 07:00, an increase of roughly 16.9%. This means the size of open contracts has grown, but it can’t distinguish long vs. short direction, and it doesn’t equal net capital inflow. The most recently confirmable funding rate at the 04:00 settlement is +0.007947% per 4 hours; the 08:00 settlement hasn’t happened yet, so the estimate shouldn’t be treated as the result. The bid-ask spread on the order book at 07:04 is about 2.27 basis points, but the top-100 static depth is roughly $684k (buyers) and $1.341M (sellers). A thin order book may involve cancellations; you can’t infer sustained sell pressure or true execution support from this alone.
I cross-checked Binance announcements and Velvet’s official blog: I can confirm the project identity and the existing activity plan, but I didn’t find any near-term new catalyst that directly explains this sudden surge; older announcements can’t be treated as the cause. Next, observe whether the complete 07:00–08:00 hour can hold the gains, whether the actual funding rate at 08:00 matches expectations, and how price reacts to the 0.08880 peak and the 0.08091 prior low. If volume weakens or the hour falls back into the range, the current acceleration should be downgraded in interpretation. Market moves quickly—once the ranking and price levels become invalid, they should be rechecked. #VELVET
