The SOON token, associated with artificial intelligence, showed a growth of more than 40% over the past day, supported by strong market momentum. Trading volume increased by 130%, creating a typical bullish setup. One of the factors contributing to this growth could be a tweet from Changpeng Zhao (CZ), co-founder and former CEO of Binance, posted on September 29. He accompanied his post with a green background featuring an image of himself, which may have fueled speculation about an upcoming bull market.
Market sentiment, according to CoinMarketCap, shows optimism regarding the asset. The Sentiment indicator recorded a level of 3.84, indicating bullish sentiment among investors who are likely to direct their funds towards profiting from the growth. The capital concentration around the asset is also bullish.
According to CoinGlass, the flows in the perpetual futures market were the most optimistic. Capital, open interest (OI), and funding rate indicate potential for a sustained rally. OI reached $92.28 million over the last 24 hours, while the weighted funding rate remained at a moderately bullish level of 0.0091%.
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