TAIKO's recent on-chain data is quite interesting.

The open interest of a leading exchange soared 29.9% in the past hour, and the price also soared 14.9% over the same period. The current open interest is around $700,000, and the OI/MC ratio is only 0.4% relative to the market capitalization of $158 million - a figure that shows that leverage is still restrained.

Extending to the 24-hour cycle, TAIKO's increase reached 13.9%. The simultaneous enlargement of contract volume and price in a short period of time usually means that there are funds rapidly building positions, which may be the layout of some large investors, or it may be that short-term speculation is heating up.

However, it should be noted that this rapid pull-up is often accompanied by high volatility. Behind the surge in open interest, it may be both the burst of confidence of the bulls and the thunder of liquidation. With a market value of $158 million, liquidity is relatively limited, and price elasticity will be relatively large.

Data is only one of the reference dimensions, and how to go has to be judged comprehensively based on project fundamentals and market trends.