SKY recorded a 14% gain over the last 24 hours, driven by sustained activity in the perpetual contracts market. Open Interest surged by 27% to reach approximately $39 million, while the Funding Rate increased, reflecting growing bullish positioning. However, spot market traders sold $363,000 over three days, including $788,000 in the last 24 hours alone, creating a divergence between the two markets. TVL grew by $569 million on September 17th, but this growth was not accompanied by an increase in generated fees. The upward momentum could continue if market activity remains supportive.
Source: Read the original article
