The EDGE token has depreciated by 11% over the past 24 hours, attributed to capital outflows in the perpetual market and a noticeable shift in sentiment: the sentiment indicator showed 0.00, indicating investors were undecided on buying or selling. This gave sellers an advantage. According to analyses, the negative trend is linked to capital outflows in the perpetual market, which recorded negative net capital flows amounting to -$746,000. At the time of writing, open interest also decreased by 10.36%, amounting to approximately $20.67 million, indicating a capital reduction of $2.39 million over the specified period.
Despite the price drop, some groups of traders are still betting on asset growth. While market capital is shrinking, the positive funding rate stands at 0.0049%, suggesting that traders are still focused on long positions. Amid the token's price decline, spot traders continued to accumulate the asset, investing $1.65 million. Net flows currently amount to -$193,000, with net flows over the past 10 days reaching around -$561,000. This indicates that with continued buyer pressure, investors are likely to hold the asset for a longer term.
The historical performance chart of the EDGE token shows that the asset has grown by 299% over the year, which also confirms traders' interest in this instrument. Heatmap analysis suggests that the risk of further price decline may be minimal, as there is a small liquidity cluster below the price capable of pulling the price up. At the same time, liquidity clusters above the price also suggest potential short-term growth.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.