① Conclusion
Coin: EVAA
Direction: Long
Buy price: 1.3501 (price recorded on 10-28 at 19:27)
Sell price: take profit at 1.3771 above (+2%); stop loss at 1.3366 below (−1%); if neither is reached by 10-29 at 19:27, close at the price then
Current status: price is 1.30 (19:56), 3.7% below the recorded price and 2.7% below the stop-loss level—this call is already wrong; it’s not close to being invalidated, it’s already wrong
So this isn’t “buy now”—it’s a record of a call that’s already proven wrong. I won’t give a new entry price or change the stop loss.
If you see this after it bounces back above 1.3366: that means my stop loss was set too tight, and the direction may not have been wrong after all—but a stop loss is a stop loss. I won’t change this call into a successful one just because it bounced back.
② What does EVAA do?
EVAA is a lending protocol on the TON blockchain. The project describes it as “the first decentralized lending protocol on TON” and calls it “the DeFi superlayer on Telegram.”
What it does is straightforward: deposit coins to earn interest, while borrowers pay interest to borrow them. It accepts more than just native TON assets. The page lists GRAM, USDT, tsTON, DOGS, NOT, USDe, tsUSDe, and PT tsUSDe. tsTON is staked TON, while USDe / tsUSDe are synthetic dollars from other chains, which shows that it also supports bridged assets.
There’s just one real difference from other lending protocols: it lives inside Telegram. The project supports Telegram Mini Apps (no need to install a new app) and is integrated with TON Space (Telegram’s built-in non-custodial wallet). It also offers an EVAA Card: you can spend your deposits with the card while they continue earning interest, or borrow against your deposits to spend—in essence, it combines “interest on deposits” with payments.
In short: it’s a TON-based lending protocol that brings “deposit coins to earn interest / borrow coins” into Telegram, and also offers a card you can use to spend your deposits. It doesn’t issue stablecoins or operate an exchange.
⚠️ As for what the EVAA token itself specifically does within the protocol: I can’t access the official documentation site (docs.evaa.finance)—I get a 403 error—so this article doesn’t discuss its tokenomics or speculate. I’m only treating it as “a share in this protocol” traded through the contract.
③ What’s happened over the past two days
From 10-23 to 10-26, it traded sideways between 0.51 and 0.53, with daily trading volume of $1.4–1.7 million.
10-27: Opened at 0.511, reached a high of 1.1663, closed at 1.1257, with daily trading volume of $131.5 million—78 times the previous day’s.
10-28 (today): Opened at 1.125, reached a high of 1.43 and a low of 0.7584, and is now at 1.30; 24-hour trading volume is $420 million, up +147% over 24 hours.
Today’s candle deserves a closer look: it plunged from 1.43 to 0.7584, then climbed back to 1.30—a swing of 88% in a single day. This isn’t “steady growth”; someone’s been sweeping the market back and forth.
One other bit of context: it peaked at 13.62 a year ago and is now at 1.30—down 90% from its high. This is “doubling over two days after falling 90%,” not a newly listed coin.
④ Where the money is going (this is the part worth looking at)
- Open contract interest is 14.19 million tokens, or about $18.5 million; the circulating market cap is only about $8.6 million (6.618 million in circulation × current price). Open interest is more than twice the circulating market cap. This price is being driven mainly by leverage, not spot buying—and there are no spot trading pairs, only contracts.
- The funding rate is +0.00038 (about 41% annualized), meaning longs are paying shorts. There are more people going long, and they’re willing to pay to hold their positions.
- The top traders’ long/short account ratio is 0.63 (38.6% long accounts / 61.4% short), but their position ratio is 58.1% long / 41.9% short. More accounts are bearish, but positions lean bullish—the big players are split into two camps, not united in their bullishness.
- Total supply is 50 million tokens, with 6.618 million in circulation (13.2%), putting the fully diluted valuation at about $65 million. The remaining 86.8% will eventually enter circulation.
That’s why this call failed: the entry price came from the high-volume breakout candle at 19:27, and just half an hour later the price was already below the stop-loss level. The rules didn’t change; the market moved.
⑤ What counts as me being wrong
- If it doesn’t hit 1.3771 within 24 hours (by 10-29 19:27), count me wrong.
- It’s already fallen below 1.3366, so count me wrong even sooner—by my own rules, this call was over within the first half hour.
- Either way, I’ll post the result this time tomorrow. I won’t move the goalposts.
⚠️ This is not investment advice. There’s no money in this account; this is my paper-traded view—I won’t write “I’ve also placed an order at this price,” because we don’t have a position and can’t open one.
—— Where the money is going