VELVET token surged 35.34%, pushing its price to around $0.60. Trading volumes exploded with spot volume rising 1,030.09% and derivatives volume soaring 5,311.17%. Open Interest climbed 65.81% to $39.07 million while Binance top traders held a majority long position with a ratio of 1.55. Key resistance stands at $0.89 with support established at $0.43. The rise in leverage supports bullish momentum but also increases reversal risks if volume slows down significantly.
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