SOON crypto jumps 40% after CZ’s cryptic post – Can the rally last?

Soon [SOON], the AI-linked token, has been on the rise in the past day, with gains crossing 40% at press time.

The asset’s bullish outlook has gained support from strong market momentum, with trading volume surging over 130% as the price climbed, creating a typical bullish setup.

One factor behind the gain could be Changpeng Zhao “CZ,” co-founder and former CEO of Binance, who tweeted “Soon…” on the 29th of September. He paired the post with a green background image of himself, which could have fueled speculation that a bull market was approaching.

This sparked interest among market participants, driving purchases of the asset with the ticker symbol “SOON.”

The market sentiment tracked through CoinMarketCap shows that there is some level of optimism regarding the asset, which could aid a stronger rebound.

Press-time data shows that Sentiment has a reading of 3.84 on the chart, suggesting that investors are bullish and would likely channel their capital to benefit from a rally.

Perpetual and spot markets turn bullish

The capital concentration toward the asset has been bullish. According to CoinGlass, the perpetual flow has been the most bullish, with Capital Flow, Open Interest (OI), and Funding Rate all indicating a sustained rally.

The OI-Weighted Funding Rate, which combines the capital across perpetual contracts based on whether the market has been dominated by long or short positions, shows the former controlling the market.

Data shows that OI reached $92.28 million in the past 24 hours as of writing, while the weighted Funding Rate maintained a moderately bullish position of 0.0091%.

Notably, there has been a flow of capital into the market that has pushed the asset higher. The perpetual flow in the market shows that $242.83 million in perpetual flow came in, with the Netflow in the perpetual market at $10.17 million.

In the Spot market, there has also been a flow of capital supporting buying activity. Across the Spot market, the flow reached -$36,550 in Netflow, with $3.93 million recorded in the past day.

A negative Netflow confirms that investors are accumulating the asset. Although the flow is still minimal, overall buying dominates the spot market.

AI trading platforms could boost SOON crypto

SOON has also hinted at the launch of its AI trading platform, which is designed specifically for AI Agents to trade crypto price movements through the perpetual market.

The project also noted that it would channel earnings from the bot into a buyback and burn program to reduce the asset’s supply in the market.

For now, the outlook remains largely bullish, and there is a high chance that SOON could maintain its present market momentum.

Final Summary

• SOON crypto gains over 40% as strong market momentum and bullish perpetual activity support its rally.

• Spot market accumulation and the planned AI trading platform could provide further support for SOON.