TOWNS climbed roughly
↗3.8%
over the past day, but selling activity dominated trading with about 60% of volume on the sell side, creating tension between the modest price gain and persistent distribution.
Mixed trading dynamics
While price moved approximately
↗3.8%
higher over the past 24 hours, blockchain data shows negative cumulative volume of roughly 91 million, suggesting more capital exiting than entering despite the modest price increase.
Selling pressure dominates activity
The sell-to-buy ratio stood at approximately 3:2 over the past day, with selling activity representing about 60% of all trades during this period, indicating continued distribution even as price ticked higher.
Forced liquidations impact traders
Traders holding positions expecting upward movement faced approximately 118.9 million in forced liquidations over recent trading, outpacing the roughly 107.8 million in liquidations for those betting on declines.
Bearish positioning costs premium
Those betting on price declines are paying negative funding rates of approximately
↘0.061%
every 8 hours to maintain their positions, indicating cautious sentiment among active traders despite the short-term bounce.