$FLNC 24h just rallied 12.319%, and now the price is hovering around 27.08. The old dog scanned the order book, and what's really interesting isn't this bullish candlestick, but the funding rate is actually zero, 0.00000000. A 12-point jump with both bulls and bears not incurring costs is rare in the perp market; it usually means neither side dares to leverage up, or more accurately, this rally is driven by spot traders, while the contract players are just chasing.
I’ve been monitoring FLNC’s OI data, and it’s only at 44552.93—way too light. Unlike traditional US stocks, in the tradifi perp market, these low OI coins, once someone hard pulls the spot, the contract shorts have nowhere to hide because there are no counter orders to close out. I calculated that a 12% rise with a holding volume of less than 45000 indicates that most of the chips are being swapped in the spot market, and the contract shorts either haven’t entered or have already been stopped out. This setup reminds me of a similarly valued ticket in the tradifi sector last month, which also had low OI and zero fees, and then continued to rise 18% over the next three days, but that time it was sparked by an announcement. This time FLNC’s tradfi_news is empty, with no news driving it, indicating it's purely driven by capital, which actually makes me think more highly of it.
No one in the market is talking about FLNC; the plaza is filled with posts about other perp assets. This kind of quietness combined with the zero fees gives me the feeling that the bulls aren’t crowded yet. A zero funding rate means no bulls are in a hurry to pay for positions, nor are there bears sitting below waiting to get squeezed; the entire structure leans neutral to bullish. I looked through similar sectors but didn’t find any secondary assets to compare, which also shows that FLNC’s move is independent; it’s not part of a rotation in the entire tradfi perp sector, capital is specifically targeting it.
So the old dog's judgment is this: if the funding rate starts to turn positive, even if it’s just to 0.005%, I’ll be cautious about bulls starting to stack up; at that point, I would reduce my position by half if it retraces around 24.5. If the funding rate stays at zero and the price holds above 26 without breaking, I’ll maintain my current position, not chasing highs but also not selling.
Trade Tag: #BinanceFutures #TradFi #USDⓈM #FLNC #FLNCUSDT $FLNC
I’ve been monitoring FLNC’s OI data, and it’s only at 44552.93—way too light. Unlike traditional US stocks, in the tradifi perp market, these low OI coins, once someone hard pulls the spot, the contract shorts have nowhere to hide because there are no counter orders to close out. I calculated that a 12% rise with a holding volume of less than 45000 indicates that most of the chips are being swapped in the spot market, and the contract shorts either haven’t entered or have already been stopped out. This setup reminds me of a similarly valued ticket in the tradifi sector last month, which also had low OI and zero fees, and then continued to rise 18% over the next three days, but that time it was sparked by an announcement. This time FLNC’s tradfi_news is empty, with no news driving it, indicating it's purely driven by capital, which actually makes me think more highly of it.
No one in the market is talking about FLNC; the plaza is filled with posts about other perp assets. This kind of quietness combined with the zero fees gives me the feeling that the bulls aren’t crowded yet. A zero funding rate means no bulls are in a hurry to pay for positions, nor are there bears sitting below waiting to get squeezed; the entire structure leans neutral to bullish. I looked through similar sectors but didn’t find any secondary assets to compare, which also shows that FLNC’s move is independent; it’s not part of a rotation in the entire tradfi perp sector, capital is specifically targeting it.
So the old dog's judgment is this: if the funding rate starts to turn positive, even if it’s just to 0.005%, I’ll be cautious about bulls starting to stack up; at that point, I would reduce my position by half if it retraces around 24.5. If the funding rate stays at zero and the price holds above 26 without breaking, I’ll maintain my current position, not chasing highs but also not selling.
Trade Tag: #BinanceFutures #TradFi #USDⓈM #FLNC #FLNCUSDT $FLNC