$CHIP One chart: climbing from the 0.039 step to 0.044, with buyback news piling up halfway up the mountain
Volume picked up at 18:00 as the price tested around 0.0435, then pushed up to a daily high of 0.04423 at 06:00. The current price, around 0.0435, is consolidating above the MA20. Open interest fell from about 216 million contracts to 201 million, while notional value rose to about 8.7 million—the price is rising as contract positions unwind, which looks more like position rotation than a leveraged frenzy. Funding rates are hovering near zero.
Permian Labs announced another round of CHIP buybacks, bringing the cumulative total to about 3.7% of the total supply. Buyback announcements can ignite short-term sentiment, but that doesn’t mean the circulating supply is genuinely tightening or that the fundamentals of computing power and business have turned a page. With $FET , a project in the same theme, also on the move, how much of this rally is “headline premium” and how much is sustained buying? We’ll have to see whether buyers still step in on a pullback to 0.042 after volume fades.
#Micron’sMarketCapSurpassesMetaAt$1.398Trillion
Volume picked up at 18:00 as the price tested around 0.0435, then pushed up to a daily high of 0.04423 at 06:00. The current price, around 0.0435, is consolidating above the MA20. Open interest fell from about 216 million contracts to 201 million, while notional value rose to about 8.7 million—the price is rising as contract positions unwind, which looks more like position rotation than a leveraged frenzy. Funding rates are hovering near zero.
Permian Labs announced another round of CHIP buybacks, bringing the cumulative total to about 3.7% of the total supply. Buyback announcements can ignite short-term sentiment, but that doesn’t mean the circulating supply is genuinely tightening or that the fundamentals of computing power and business have turned a page. With $FET , a project in the same theme, also on the move, how much of this rally is “headline premium” and how much is sustained buying? We’ll have to see whether buyers still step in on a pullback to 0.042 after volume fades.
#Micron’sMarketCapSurpassesMetaAt$1.398Trillion
