$INX Relay to the top, but already in the second half


The biggest anomaly is the change of the top spot
NIL exited at 120%
INX took over with 53.84%
Indicating hot money is rotating, not a general rise
Open interest from 0 to $9.5M level
24h +322.1%, aggressive positioning
Fee rate up to +0.0716%
Eight consecutive periods of long positions paying
Indicating longs are starting to crowd in
If the price falls below around 0.015
While open interest continues to rise
That’s a signal of adding positions at high levels getting trapped
Only if the fee rate falls back can it be considered cooling down
$INX Is this wave a relay, or a trap?
INX29.18%
NIL-8.11%
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