What caused GMT to explode today? Become a hot search!
From a technical point of view, $GMT finally broke through the bottom range. The trading volume was huge when it broke through. Although it fluctuated afterwards, the trading volume was always large, and there was a high increase. The spot price difference is quite large. It is 0.20 on Binance, but OK is between 0.174 and 0.175, and the highest price of the contract is only about 0.164. This shows that this round of increase is mainly driven by spot buying.
Let's look at the data again. $GMT skyrocketed in a short period of time. The 24-hour trading volume directly rushed to 1 billion, far exceeding the market value of 400 million, and the funding rate was also abnormally low, reaching -0.72%. The 24-hour trading volume increased by 15 times, and the position more than doubled. The funds are really active.
Although I don't know why the trading volume is so large and the price has risen so sharply today, it must be the funds that are at work. As long as there is capital attention, the trend will be good, so $GMT needs special attention today.
As for the price, now focus on the high closing position, which is about 0.22.
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