VIC recorded a strong price increase thanks to a capital inflow of 26 million USD and ecosystem upgrades.
Trading volume and active on-chain activity have led to an optimistic sentiment among most investors, encouraging VIC to maintain a sustainable bullish trend for four weeks.
MAIN CONTENT
Perpetual market investors pumped 26 million USD, pushing Open Interest up 550% in 24 hours.
The buy-sell ratio and trading volume surged, reinforcing the strength of the bullish trend.
Ecosystem updates and chain synchronization issues resolved led to a 4,000% increase in network fees along with over 2.95 million transactions last week.
How do perpetual market investors influence the VIC price increase?
According to CoinGlass, perpetual market investors pumped 26 million USD, causing VIC's Open Interest to reach 152.41 million USD, a historic high.
Open Interest measures the total number of outstanding perpetual contracts, and the surge indicates strong participation. Trading volume in 24 hours increased over 1,000% to reach 3.82 billion USD, combined with a buy-sell ratio (Taker Buy/Sell) at 1.101, demonstrating overwhelming buying pressure.
A massive capital injection from perpetual investors helped VIC make a spectacular breakthrough, laying the foundation for a long-term bullish trend.
Mr. Alex Tran, CEO of CoinGlass, stated on June 20, 2024.
What do current developments indicate about the VIC price trend?
Short sellers suffered heavy losses as they had to liquidate about 9.9 million USD in the last 24 hours, proving that buying pressure still dominates.
Furthermore, data from CoinMarketCap shows that 81% of the community expects VIC to continue rising, reinforcing the likelihood that the market will maintain a positive trend.
The current VIC market shows clear strength, with the position of short-sellers 'breaking', indicating confidence in future bullish trends.
Market analysis of CoinMarketCap, June 2024.
Which ecosystem updates have driven VIC's price increase?
VIC has just resolved the on-chain 'sync issue', ensuring the consistency and synchronization of the ledger, which enhances the reliability of the blockchain network.
According to Nansen, after the upgrade, transaction fees on the VIC network rose over 4,000%, and last week the number of transactions exceeded 2.95 million, showing vibrant on-chain activity.
This contributes to attracting new capital inflows while reinforcing the bullish trend of VIC from both technical and network fundamentals.
How to assess risks and opportunities when investing in VIC at this time?
Combining perpetual market data, liquidity, and community reactions, VIC is in a phase of strong growth but needs to closely monitor risk factors such as liquidation volatility and liquidity changes.
Investors are advised to allocate their assets wisely and regularly update reports from CoinGlass and Nansen to make accurate decisions.
Frequently Asked Questions
What is VIC and why did it surge? VIC is a cryptocurrency from a newly upgraded ecosystem, receiving a capital inflow of 26 million USD to boost it. (Source: CoinGlass, Nansen)
What does an increase in Open Interest mean? This is an index measuring the number of outstanding perpetual contracts, and an increase signals liquidity and strong buying power. (CoinGlass)
What is the reason for the increase in VIC network fees? The previous synchronization issue has been resolved, stabilizing transactions and attracting more trades. (Source: BuildOnViction)
How does liquidating short positions affect the market? Large liquidations are proportional to buying pressure, confirming that the market is in a bullish trend. (CoinGlass)
Does VIC still have the potential to continue rising? 83% of investors expect price increases, based on positive network activity and market data. (CoinMarketCap)
Source: https://tintucbitcoin.com/vic-tang-60-tien-ao-bung-no/
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