Reviewed by Reviewed by Renuka Tahelyani Updated 22:00 EDT October 7, 2026 Share Share Share Back to Top Pons [PONS] rallied more than 10% over the past 24 hours, even as selling pressure accompanied the move
Sellers remained active across perpetual and spot markets, potentially threatening the gains as the broader crypto market pulled back
Over the same period, PONS recorded approximately −$7.89 million in perpetual Net Inflow. This metric tracks buying volume minus selling volume, with negative readings indicating that selling outweighed buying
The spot market showed a similar imbalance. Its 24-hour Net Inflow stood at −$1.64 million, alongside $10.64 million in buying-side Inflow. These figures suggested net selling, although they could not establish whether sellers were taking profits
If demand failed to absorb that pressure, PONS could surrender some of its recent gains
Even so, the Funding Rate and Open Interest offered a more encouraging picture of derivatives positioning
Funding payments help keep perpetual prices aligned with spot prices. A positive Funding Rate means longs pay shorts, generally reflecting a bullish tilt. At press time, PONS recorded a positive Funding Rate of 0.0032%
Meanwhile, Open Interest rose roughly 6% to $175.09 million over the same period. Open Interest measures the value of outstanding derivatives contracts, rather than available capital waiting to enter the market
Its growth indicated that outstanding exposure had expanded
Alongside positive funding, this suggested continued appetite for bullish positioning, without establishing that all new positions were longs. That left PONS with a tug-of-war: traders maintained bullish exposure while selling volume outweighed buying volume
PONS could still advance in the near term despite the selling pressure
The Liquidation Heatmap showed a greater concentration of estimated liquidation levels above the price. These represent potential forced closures of leveraged positions, rather than ordinary resting buy or sell orders
If PONS climbed into those zones, Short Liquidations could add buying pressure and accelerate the move
However, their concentration alone could not guarantee that the price would reach them. Lower liquidation clusters also left room for volatility if sellers gained control
For now, bullish positioning supported the upside case, while negative Net Inflows challenged the rally’s buying support. Whether fresh demand could absorb the selling remained the more immediate test
Olayiwola Dolapo is a Crypto Research Analyst at AMBCrypto, driven by a mission to make the digital asset space more transparent and understandable for all. His journey was catalyzed by an early experience in the market that underscored the importance of deep, foundational knowledge—a principle that now guides his professional work
