Thursday evening, while everyone was posting about the 9th anniversary and Ethereum’s weekly candle, an old cross-chain coin was already up about 7% on the daily chart.
$ATOM rose from about 1.43 to 1.53 in a day (around +7%), while still down about 6% for the week; the account long/short ratio fell from about 2.57 to 1.62 (roughly 72% long to 62% long—traders kept pulling out even as the price rose); OI was up about 15%, and the funding rate was maxed out at +0.01%/8h. Price up, money piling in, traders leaving—and the rent keeps coming in. Don’t mistake 1.53 for a revival of consensus. Meanwhile, $NEAR was still down about 13% for the week and paying max rent.
Do you think this is a baton pass to new buyers, or will they scatter as soon as the pump is over? Sound off in the comments.
$ATOM rose from about 1.43 to 1.53 in a day (around +7%), while still down about 6% for the week; the account long/short ratio fell from about 2.57 to 1.62 (roughly 72% long to 62% long—traders kept pulling out even as the price rose); OI was up about 15%, and the funding rate was maxed out at +0.01%/8h. Price up, money piling in, traders leaving—and the rent keeps coming in. Don’t mistake 1.53 for a revival of consensus. Meanwhile, $NEAR was still down about 13% for the week and paying max rent.
Do you think this is a baton pass to new buyers, or will they scatter as soon as the pump is over? Sound off in the comments.
