On the subway after work, I almost missed my stop. For this wave at $OPEN , my first reaction wasn't bullish, but rather, "Why's it heating up again?" 😅
Spot trading is only $3.88M, but contracts are already hitting $10.53M, that's a straight 2.7x leverage.
Funding rate is still at +0.0050%, with open interest hanging at 49.12 million tokens, feels like the sentiment is getting a bit frothy.
Price is sitting at $0.2073, with a 24h range from $0.1766 peaking at $0.2141, now back to this level.
Honestly, this kind of 16.33% bounce looks like a lot of folks are both chasing and scared at the same time.
I'm leaning towards taking a jab + observing.
Doudou just hopped on my keyboard, and I'm looking at this candlestick that’s rounder than its face; not keen on chasing for now. If I lose, don’t bring it up, if I profit, treat me to a coffee. $OPEN #OPEN
Spot trading is only $3.88M, but contracts are already hitting $10.53M, that's a straight 2.7x leverage.
Funding rate is still at +0.0050%, with open interest hanging at 49.12 million tokens, feels like the sentiment is getting a bit frothy.
Price is sitting at $0.2073, with a 24h range from $0.1766 peaking at $0.2141, now back to this level.
Honestly, this kind of 16.33% bounce looks like a lot of folks are both chasing and scared at the same time.
I'm leaning towards taking a jab + observing.
Doudou just hopped on my keyboard, and I'm looking at this candlestick that’s rounder than its face; not keen on chasing for now. If I lose, don’t bring it up, if I profit, treat me to a coffee. $OPEN #OPEN