My view on $FET right now: cautiously bullish
The setup: $FET ~$0.23, +18% in 24h with 24h volume ~$247M (+45%). Open interest hit $128.8M, up 25.5% in 24h — futures are chasing the move, but funding at 0.0112% isn't overheated yet.
Catalyst: the ASI Alliance confirmed a signing-key compromise in FET's migration/converter infra (~$1.56M extracted). Core contracts unaffected, conversions paused — yet price ripped anyway on AI-token rotation.
Narrative check: the crowd is euphoric (93% bullish per CoinGecko, Square feeds full of pump posts), but the exploit was only days ago — the security overhang is real and mostly ignored.
My view: momentum + fresh OI justify a bullish lean, but this looks like a news-driven squeeze, not a trend reversal (still ~61% down over 1y). 55/30/15 bull/bear/neutral.
Not financial advice. DYOR. #FET #Crypto #BinanceSquare
The setup: $FET ~$0.23, +18% in 24h with 24h volume ~$247M (+45%). Open interest hit $128.8M, up 25.5% in 24h — futures are chasing the move, but funding at 0.0112% isn't overheated yet.
Catalyst: the ASI Alliance confirmed a signing-key compromise in FET's migration/converter infra (~$1.56M extracted). Core contracts unaffected, conversions paused — yet price ripped anyway on AI-token rotation.
Narrative check: the crowd is euphoric (93% bullish per CoinGecko, Square feeds full of pump posts), but the exploit was only days ago — the security overhang is real and mostly ignored.
My view: momentum + fresh OI justify a bullish lean, but this looks like a news-driven squeeze, not a trend reversal (still ~61% down over 1y). 55/30/15 bull/bear/neutral.
Not financial advice. DYOR. #FET #Crypto #BinanceSquare