Key Takeaways
Why did 0G surge 21%?
Its mainnet launch, Binance listing, and $3 million airdrop boosted demand, pushing the price to $5.79.
What risks face 0G holders now?
Negative Funding Rates and rising Open Interest show shorts dominating, hinting at a potential pullback.
0G [0G] surged 21% in the past day to $5.79, with market capitalization crossing $1.23 billion following its mainnet launch and Binance listing.
Liquidity inflows into the market are in no short supply. Yet, the dynamics point to an interesting possibility—that 0G could face a sharp decline in the coming days.
0G sees naive liquidity inflow
There has been a massive surge in liquidity circulating around 0G, with the token’s market capitalization trending firmly into the billion-dollar range.
As of publication, 0G was worth $1.26 billion in market capitalization, following a 21% price climb to $5.29.
The surge in liquidity has been especially visible in the Derivatives market, where Open Interest rose sharply.
Open Interest, which reflects liquidity in the Derivatives market, saw a dramatic rise of 280% to $145.63 million in the past day—a significant addition.
The spot market also saw heavy activity, with trading volume crossing $1.93 billion in the past day, although it remains unclear whether buyers or sellers dominated.
Funding Rates hint at downside
The surge has not been fully aligned with signals across the broader market. Recent data suggested a significant decline c
Go to Source to See Full Article
Author: Olayiwola Dolapo
