Cap [$CAP] surged roughly 23% in the past day as bullish sentiment in the market has remained on the higher side.
The perpetual market has played a role in the rally, with the Funding Rate and Open Interest confirming that there is buying pressure in the market.
The Funding Rate presently has a reading of 0.0050%, while Open Interest rose roughly $6.16 million to $32 million at press time. When the Funding Rate is mildly positive and Open Interest and the asset price are rising, it confirms that there are more long positions in the market.
