Did anyone catch that $ONE dump? Those who entered almost immediately after that call drop caught the move before the retracement hit. If you were early, you're sitting on a clean win right now.
Personally, I still don't trust this move, and there are a few reasons.
The Harmony exploit earlier this year did real damage to the network's credibility. Also, $ONE isn't functioning as a native blockchain token anymore in the way it used to. It's now living as a token on Ethereum, positioned around AI, and behaving more like a utility meme coin. That shift gives the team more room to run the kind of pump and dump patterns you'd expect from a meme coin.
Then there is the price inconsistency.
Prices across exchanges are not unified right now, which is rarely a good sign.
In addition, the coin is in backwardation. Spot is trading above futures, which tells you the market isn't confident about where this goes from here.
Funding on Binance is deeply negative; this shows heavy short positioning. The danger here is a short squeeze, one more push up before the real move down.
If you only took this trade recently or on the retracement, you should also be in profit. I'd advise taking partial profit and moving your stop to entry. Capital protection matters more.
Personally, I still don't trust this move, and there are a few reasons.
The Harmony exploit earlier this year did real damage to the network's credibility. Also, $ONE isn't functioning as a native blockchain token anymore in the way it used to. It's now living as a token on Ethereum, positioned around AI, and behaving more like a utility meme coin. That shift gives the team more room to run the kind of pump and dump patterns you'd expect from a meme coin.
Then there is the price inconsistency.
Prices across exchanges are not unified right now, which is rarely a good sign.
In addition, the coin is in backwardation. Spot is trading above futures, which tells you the market isn't confident about where this goes from here.
Funding on Binance is deeply negative; this shows heavy short positioning. The danger here is a short squeeze, one more push up before the real move down.
If you only took this trade recently or on the retracement, you should also be in profit. I'd advise taking partial profit and moving your stop to entry. Capital protection matters more.
