Bottom line: DOT spot is up about 12% over 24 hours to $1.217, but the notional value of open contracts has not returned to the previous day's high. For now, this looks more like a rebound driven by price recovery, short covering, and spot buying, rather than a confirmed trend reversal. In the near term, watch whether DOT can hold above $1.225 after the close.
As of 04:50 Beijing time on October 10, 2026, the latest Binance spot DOTUSDT price was about $1.217, up 12.063% over 24 hours, with a range of $1.080–$1.225 and trading volume of about $17.9496 million. The latest Binance USDⓈ-M DOTUSDT perpetual price was about $1.2162, up 12.299% over 24 hours, with trading volume of about $107.39 million. Note that spot and derivatives trading volumes are measured on different bases and should not be added together and treated as net inflows.
Looking at closed candles, the most recently closed 4-hour candle opened at 1.189 and closed at 1.204, with a high of 1.221 and trading volume of approximately $4.0606 million—markedly higher than in the preceding few 4-hour candles. The most recently closed 1-hour candle closed at 1.204, after reaching a high of 1.218. Meanwhile, the October 8 daily candle closed at 1.090, after dipping to a low of 1.009, suggesting that this rally is a recovery following the earlier decline.
Leverage data is not fully confirming the price action. Binance's public historical OI data shows that the notional value of DOT perpetual open interest at 20:00 UTC on October 9, 2026, was approximately $36.0393 million, compared with about $37.2188 million roughly 24 hours earlier—a decrease of about 3.2%. Current open interest is approximately 30.1704 million DOT, equivalent to about $36.7 million at the mark price. The latest settled funding rate is 0.0100% every 8 hours, meaning longs are paying, but it is not yet high enough on its own to indicate extreme crowding.
This combination is best interpreted as follows: prices are rising while OI has not expanded again. This could reflect spot buying, short covering, or some reduction in leverage. It suggests that selling pressure has eased for now, but does not prove that a new bullish trend has begun. In particular, at 04:50 Beijing time, the latest 1-hour and 4-hour candles, as well as the October 9 daily candle, had not yet fully closed. An intraday touch of 1.225 does not constitute a confirmed breakout.
Watch three short-term signals: First, whether the price can hold above $1.225 after a 4-hour candle closes. Second, whether volume holds up when the price moves above key levels, rather than quickly drying up after a spike. Third, whether OI recovers moderately in sync with the price, rather than continuing to fall as the price rises. If the price falls back below the low of the most recently closed 4-hour candle at 1.187, the view that the rebound will continue is invalidated. If weakness intensifies again, the next level to watch is the 24-hour low near 1.080.
The above is solely a market observation based on Binance's public spot and perpetual market data, closed candles, OI, and funding rates; it does not constitute investment advice. Before using leverage on highly volatile coins, set a maximum loss and an invalidation level. Do not mistake an intraday surge for a confirmed trend.