SOON, an AI-linked cryptocurrency token, has risen more than 40% over the past 24 hours, driven by increased trading volume and strong market momentum. Trading volume surged over 130% as the price climbed, creating conditions typical of a bullish market setup.
The rally has been fueled by several factors, including a cryptic post from Changpeng Zhao, the co-founder and former CEO of Binance, who tweeted "Soon..." on September 29 paired with a green background image. The post sparked interest among market participants and drove purchases of the SOON token.
Market Sentiment and Capital Flows
Sentiment metrics tracked through CoinMarketCap indicate optimism around the asset, with readings suggesting investors are bullish. Data from CoinGlass shows strong activity across derivatives markets, with the Open Interest weighted funding rate indicating that long positions dominate the market. Open Interest reached $92.28 million in the past 24 hours, while the perpetual market recorded $242.83 million in capital flow and $10.17 million in net perpetual flow.
The spot market has also seen accumulation activity, with negative net flow of -$36,550 confirming investor buying pressure, though volumes remain modest at $3.93 million over the past day.
Upcoming Platform Launch
SOON has announced plans to launch an AI trading platform designed to enable AI Agents to trade crypto price movements through the perpetual market. The project intends to channel earnings from the platform into a buyback and burn program to reduce the token's circulating supply.
