$ALT 24h is up 49.0%, nearly doubling over the past 7 days, yet the funding rate is only 0.005%. With a rally this strong, the futures market isn't crowded at all.
· Open interest rose 86.6% in 24h, reaching $21.55 million
· Open interest/market cap: 19.4%; futures trading volume is 5.1 times spot volume
· Long/short account ratio: 0.98, with longs and shorts roughly evenly split
ALT is the token of AltLayer, a Rollup-as-a-Service provider. Put simply, it helps projects quickly build their own chains. It was listed on Binance via Launchpool in early 2024.
The funding rate is holding near its baseline while open interest keeps climbing. This suggests that new positions don't show a clear directional bias; it looks more like both longs and shorts are adding leverage together. During the rally, no one is paying a hefty premium, but if there's a sharp move in either direction, both sides could get wiped out. Another possibility is that someone is accumulating on the spot market, with futures simply amplifying the move—in that case, a pullback may be less severe.
On October 26, around 240 million tokens are scheduled to unlock for the team, investors, and advisers. Who gets them matters more than how many each group gets. Also, with 73.7% already in circulation and FDV about 36% higher than market cap, short-term speculative trading is likely to play a bigger role.
#ALT #妖币 #Funding Rate
· Open interest rose 86.6% in 24h, reaching $21.55 million
· Open interest/market cap: 19.4%; futures trading volume is 5.1 times spot volume
· Long/short account ratio: 0.98, with longs and shorts roughly evenly split
ALT is the token of AltLayer, a Rollup-as-a-Service provider. Put simply, it helps projects quickly build their own chains. It was listed on Binance via Launchpool in early 2024.
The funding rate is holding near its baseline while open interest keeps climbing. This suggests that new positions don't show a clear directional bias; it looks more like both longs and shorts are adding leverage together. During the rally, no one is paying a hefty premium, but if there's a sharp move in either direction, both sides could get wiped out. Another possibility is that someone is accumulating on the spot market, with futures simply amplifying the move—in that case, a pullback may be less severe.
On October 26, around 240 million tokens are scheduled to unlock for the team, investors, and advisers. Who gets them matters more than how many each group gets. Also, with 73.7% already in circulation and FDV about 36% higher than market cap, short-term speculative trading is likely to play a bigger role.
#ALT #妖币 #Funding Rate