Here’s why CashCat’s 11% rally puts Hyperliquid, Gate and Bybit in focus

CashCat [CASHCAT] gained 11% over the past day as the broader market recovered. The gains coincided with bullish sentiment and increased activity in the perpetual market. Open Interest rose alongside the price, while the Funding Rate remained positive. Buyers had the edge, but could that positioning support another leg higher? What supported CASHCAT’s 11% rally? CashCat recorded roughly $11.12 million in perpetual Inflows over the past 24 hours. Inflows exceeded Outflows, leaving positive Netflows of $122,240 at the time of analysis. This pointed to net capital entering the tracked perpetual market, although flows alone did not establish traders’ direction. Alongside those positive flows, Open Interest climbed over 11% to $51.43 million, while the Funding Rate stayed positive. Rising Open Interest indicated more outstanding contracts.

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