VIC crypto soars 60% in 24 hours – Is the rally just beginning?
VIC could extend its gains in the coming days.
- A $26 million liquidity inflow into the perpetual market has driven VIC’s ongoing rally.
- Recent ecosystem updates have led 83% of market participants to bet on further gains.
Viction [VIC] led the market with an astonishing 60% surge, pushing its past week’s gain above 100% and maintaining a four-week bullish streak.
Perpetual market investors have heavily backed this rally, supported by rising on-chain activity and a key ecosystem upgrade.
Still, whether the rally can hold remains uncertain—AMBCrypto breaks down the key factors you need to watch.
Investors empty wallets on VIC crypto
Perpetual investors have emerged as the primary force behind VIC’s rally, injecting $26 million into the market and pushing Open Interest up by over 550% in just 24 hours, according to CoinGlass.
Open Interest, which tracks the total number of unsettled perpetual contracts, reflects heightened activity in the market when it rises. At the time of writing, it had reached $152.41 million, an all-time high for VIC.
Price momentum further accelerated as trading volume surged over 1,000% to $3.82 billion, reinforcing the strength of the rally.
Supporting this trend, the Taker Buy/Sell Ratio climbed to 1.101 within the same period, indicating more aggressive buying than selling in the perpetual market, another sign of building bullish pressure.
The spot market also played a role, albeit a smaller one, with $344,000 worth of VIC accumulated for long-term holding. While modest, this marked a record high for VIC spot purchases.
March forward for price?
The rally appears to be holding strong, as traders who positioned against the uptrend have incurred losses.
Short sellers have lost about $9.9 million through liquidations in just the past 24 hours, according to CoinGlass.
This significant loss, especially when compared to the long traders’ position, confirms that market momentum remains firmly bullish.
Additionally, sentiment data from CoinMarketCap shows that 81% of community members expect the asset to continue its upward trajectory, supporting the likelihood of an extended bullish run.
Ecosystem upgrade spurs rally
This sharp price rally comes shortly after VIC resolved a network issue, which, according to a post on X, was a “sync issue.”
This meant that the blockchain previously failed to maintain a consistent and up-to-date copy of its ledger.
According to Nansen, not only did the price surge over the past day, but the network also saw weekly fees spike over 4,000%, as transaction count surpassed 2.95 million.
Sustained liquidity inflows from buyers, combined with positive on-chain activity, could propel VIC higher in the upcoming trading sessions
