The two order books are going in opposite directions, but the chart is already signaling a primary uptrend.
$INJ Current price: 9.20, up 25.6% on the day and 1.5% off the high.
Binance top-five sell/buy ratio: about 0.53; OKX: about 2.27.
Injective daily fees: about 8,000, up just 0.1% period over period; HL positions: about 11.83 million, with about 20.08 million for the day.
The excitement is in the price, but fee revenue has barely moved—I’m betting on a pullback. The only thing that would change my mind is daily fees getting back above 20,000.
#INJ结构 #FeeRevenueDivergence
$INJ Current price: 9.20, up 25.6% on the day and 1.5% off the high.
Binance top-five sell/buy ratio: about 0.53; OKX: about 2.27.
Injective daily fees: about 8,000, up just 0.1% period over period; HL positions: about 11.83 million, with about 20.08 million for the day.
The excitement is in the price, but fee revenue has barely moved—I’m betting on a pullback. The only thing that would change my mind is daily fees getting back above 20,000.
#INJ结构 #FeeRevenueDivergence