Stacks [STX] recorded a 13% price increase over a 24-hour period, supported by strengthening capital flow across both the perpetual and spot markets. According to data from CoinGlass, trading activity highlighted growing accumulation trends among market participants.
Spot Market Accumulation
In the spot market, traders purchased STX across multiple venues and transferred the assets into private wallets, resulting in a negative netflow. At press time, the netflow reached approximately -$165,000 following a $5.90 million buy.
This accumulation trend has developed over several days. Over a ten-day period, the market recorded a netflow of -$1.15 million, with roughly -$1.03 million of that figure occurring in the final three days. Continued spot buying could support the asset's ongoing price movement.
Perpetual Market Dynamics
Gains were also supported by activity in the perpetual market, where both the Funding Rate and Open Interest (OI) experienced positive surges. Perpetual Open Interest increased by 24% to reach $38 million.
The Funding Rate reached 0.0101%, maintaining a positive reading that it held for days leading up to the rally. This metric indicates that investors maintained bullish positioning to go long on the asset.
Liquidation Gap and Trader Conviction
Market liquidation data showed a minimal gap between long and short positions. CoinGlass reported that short-position liquidations reached $71,000, while long-position liquidations totaled roughly $54,000. This narrow gap reflects a relatively slim margin between long and short positioning among traders.
