$NEAR is up about 16% in 24h. Which public blockchain is next for a catch-up rally? My take
First, the data (OKX):
・$NEAR is currently around 5.29, with a 24h high of about 5.44 and low of about 4.53. Open interest in futures is about $73 million, and the funding rate is around +0.01%.
・$APT is around 0.88, up about 15% in 24h and hovering near its intraday high of 0.888.
・$SUI is around 1.05, up about 7% in 24h, with a funding rate of about +0.003%.
・Bitcoin is around 82,400, up only about 2%. The Fear & Greed Index is at 63.
My take:
1. This is a catch-up rally for established public blockchains, not a broad risk-on move. BTC is up 2% while NEAR is up 16%—capital is picking sectors rather than lifting the whole market.
2. Funding rates are all only around +0.01%. Long positions aren't overheated, and this isn't a short squeeze. It looks more like spot and futures buyers are gradually accumulating together.
3. Of the three, NEAR has the highest volume and the largest open interest, making it the leader in this group. APT's gains are close, but its volume is much lower, so it's more of a follower. SUI has gained the least, making it a laggard catching up.
Key levels: If NEAR holds above 5.10, the rally could continue; its previous high of 5.44 is the first resistance. If it falls back below 4.90, consider this a one-day move. If the funding rate suddenly rises above +0.05%, that signals crowded longs, so beware of a sharp pullback.
Risk: If BTC pulls back, catch-up coins usually fall faster than they rose. Don't open highly leveraged positions at the highs.
Which of these three public blockchains would you bet on? Comment 🟢NEAR / 🔵APT / 🟣SUI
#NEAR #APT #SUI #PublicBlockchains #山寨輪動
Binance referral code: BRYANTTRADE
For more resources, see the BIO on my profile.
Not investment advice. Investing involves risk.
First, the data (OKX):
・$NEAR is currently around 5.29, with a 24h high of about 5.44 and low of about 4.53. Open interest in futures is about $73 million, and the funding rate is around +0.01%.
・$APT is around 0.88, up about 15% in 24h and hovering near its intraday high of 0.888.
・$SUI is around 1.05, up about 7% in 24h, with a funding rate of about +0.003%.
・Bitcoin is around 82,400, up only about 2%. The Fear & Greed Index is at 63.
My take:
1. This is a catch-up rally for established public blockchains, not a broad risk-on move. BTC is up 2% while NEAR is up 16%—capital is picking sectors rather than lifting the whole market.
2. Funding rates are all only around +0.01%. Long positions aren't overheated, and this isn't a short squeeze. It looks more like spot and futures buyers are gradually accumulating together.
3. Of the three, NEAR has the highest volume and the largest open interest, making it the leader in this group. APT's gains are close, but its volume is much lower, so it's more of a follower. SUI has gained the least, making it a laggard catching up.
Key levels: If NEAR holds above 5.10, the rally could continue; its previous high of 5.44 is the first resistance. If it falls back below 4.90, consider this a one-day move. If the funding rate suddenly rises above +0.05%, that signals crowded longs, so beware of a sharp pullback.
Risk: If BTC pulls back, catch-up coins usually fall faster than they rose. Don't open highly leveraged positions at the highs.
Which of these three public blockchains would you bet on? Comment 🟢NEAR / 🔵APT / 🟣SUI
#NEAR #APT #SUI #PublicBlockchains #山寨輪動
Binance referral code: BRYANTTRADE
For more resources, see the BIO on my profile.
Not investment advice. Investing involves risk.