Parabolic

Show

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-show-interest-in-bonk-with-price-increase/" data-wpel-link="internal">Investors Show Interest in BONK with Price Increase</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/solana-hits-new-annual-highs-as-crypto-rally-expands/" data-wpel-link="internal">Solana</a></strong>-based meme coin BONK showed a price movement that pleased its <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. Accordingly, it achieved a 12% increase in the last 24 hours. BONK price reached $0.000026. This price increase was accompanied by a 67% rise in daily trading volume, reaching $522 million. Such an increase indicates growing investor interest and trading activity surrounding BONK.</p> 
<h2 style="text-align: justify" id="trading-volume-in-derivative-markets-also-increased">Trading Volume in Derivative Markets Also Increased</h2> 
<p style="text-align: justify">The derivative market for the cryptocurrency BONK also experienced an increase in activity, with trading volume in derivatives reaching $206 million, a 77% increase. This rise was also reflected in BONK’s Open Interest in derivatives, which increased by 24%. Since Open Interest reflects the number of derivative contracts in circulation, this situation is considered a measure of market participation and sentiment.</p> 
<p style="text-align: justify">Despite the upward movement in BONK’s spot market, the Parabolic SAR indicator recently gave a bullish signal with points below the price, indicating a potential upward trend, while sentiment in the Futures market tells a different story.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-369271 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/bonk-.png" alt="" width="2048" height="578"></p> 
<p style="text-align: justify">The Funding Rate for BONK Futures contracts was negative at the time (-0.02%), indicating that more investors were positioning for a price drop rather than expecting more gains. This divergence between the spot and Futures markets makes it challenging to predict BONK’s <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> price movements.</p> 
<h2 style="text-align: justify" id="negative-funding-rate">Negative Funding Rate</h2> 
<p style="text-align: justify">The negative Funding Rate in Futures contracts indicates a cautious stance among investors regarding the sustainability of <strong>BONK</strong>‘s current rally. This situation shows that despite bullish signals from spot market indicators like the Parabolic SAR, a significant number of investors are hedging against potential downside risks.</p> 
<p style="text-align: justify">The primary determinant of the Solana-based meme coin BONK’s price trajectory in July will likely depend on whether the bullish trend in the spot market outweighs the cautious stance in the Futures market. If the current momentum continues and buying pressure persists, BONK could potentially rise further and test resistance levels around $0.000027. However, if selling pressure intensifies and the negative sentiment in Futures contracts continues, a pullback towards support levels around $0.000024 could occur.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-show-interest-in-bonk-with-price-increase/" data-wpel-link="internal">Investors Show Interest in BONK with Price Increase</a></h5>

Investors Show Interest in BONK with Price Increase

Spis treści

COINTURK NEWS

Inne artykuły opublikowane 10 lip 2024

Coinbase’s Stand With Crypto initiative to launch in Canada

Wormhole Enables Native USDT Transfers on Uniswap v3

Bitcoin Power Law Predicts Up to 300% BTC Price Surge by Late 2025

Bitcoin Price Hovers Near $58,000 as Altcoins Start to Recover

FED President Jerome Powell Speaks! Did Bitcoin (BTC) React?

Bybit Card Debuts In Argentina With A 10,000 ARS Bonus And Other Rewards

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!