$APP 22 record volume pushes through the daily high, and shorts are still paying—the move isn’t just following BTC.
The sequence is clear: after plunging to 305.8 at 17:00, it climbed steadily. The previous high of 338 was taken out before 21:00, and hourly trading volume at 22:00 was about 17.4 million U, with the price reaching 355.8. During the same period, $BTC was still pulling back, while APP was up nearly 38% on the daily chart.
Who’s paying matters more: the perpetual funding rate is around -0.18%, so shorts are effectively paying longs. Meanwhile, OI has climbed from about 19,600 to 21,300 over the past few hours—positions are being added as the price rises, rather than traders simply closing shorts and leaving.
Assessment: overheated in the short term (RSI near 78), but as long as funding stays deeply negative and a pullback holds above rising support, this move is an independent pulse driven by shorts footing the bill. Don’t apply BTC’s rhythm to it.
#Upbit上线CARDS #Blockaid raises $40 million in funding
The sequence is clear: after plunging to 305.8 at 17:00, it climbed steadily. The previous high of 338 was taken out before 21:00, and hourly trading volume at 22:00 was about 17.4 million U, with the price reaching 355.8. During the same period, $BTC was still pulling back, while APP was up nearly 38% on the daily chart.
Who’s paying matters more: the perpetual funding rate is around -0.18%, so shorts are effectively paying longs. Meanwhile, OI has climbed from about 19,600 to 21,300 over the past few hours—positions are being added as the price rises, rather than traders simply closing shorts and leaving.
Assessment: overheated in the short term (RSI near 78), but as long as funding stays deeply negative and a pullback holds above rising support, this move is an independent pulse driven by shorts footing the bill. Don’t apply BTC’s rhythm to it.
#Upbit上线CARDS #Blockaid raises $40 million in funding
