BTC is down 1.31% and ETH is down 2.62%. Amid a sea of red, $ONE is up 24.86% over the past 24 hours in spot trading, currently at 0.001738, with trading volume of about 30.01 million USDT and a range of 0.001390 to 0.002080. While the whole market is holding back, it’s the only one going long.
Three groups are affected: holders are watching the upper wick at 0.002080; those who chased in all have entry costs above 0.0017; and those who haven’t bought in are wondering whether to wait for a pullback or a surge in volume. The answers are completely different.
What’s worth watching isn’t the price gain—it’s on-chain data. Check whether TVL on the chain where $ONE is deployed is rising in tandem, whether stablecoins are seeing net inflows, and whether perpetual futures funding rates have been pushed to extremes by bullish traders. A single candlestick can be drawn by price, but not by TVL or stablecoin flows.