ORDER（OrderlyNetwork） fluctuated by 44.1% in 24 hours: Surge in trading volume driven by perpDEX upgrade

Volatility Overview

In the past 24 hours, ORDER's price hit a low of $0.051 and a high of $0.0735, currently quoted at $0.0686, with a price swing of 44.1%, presenting a pattern of initial surge followed by a pullback. The 24-hour trading volume was about $45.27 million, down 18.9% from the previous day, but with a significant improvement in overall liquidity.

Brief Analysis of Fluctuation Causes

- Network Upgrade Announcement: On April 7, Orderly Network announced another upgrade. Foxify introduced the "FUNDED" product into PerpTools (a perp DEX powered by Orderly), covering 100+ trading pairs, attracting the DEXTools user ecosystem of 20 million, and boosting perp liquidity.

- Funding Rate Arbitrage Opportunity: On April 7, the long-short funding rate spread for $ORDER reached 2.13% (annualized 776.54%), attracting cross-exchange arbitrage such as Bybit long/Bitget short, which drove trading activity.

- Continued Trading Volume Surge: Recently, the 24-hour trading volume had surged by 2,192% to $86.2 million, with the influx of liquidity amplifying volatility.

Market Views and Outlook

The mainstream sentiment in the community is positive, seeing the upgrade as a key catalyst for perp DEX adoption, with expectations that more integrations will push up TVL. High funding rates may continue to attract arbitrage, but analysts caution about volatility risks and warn of a possible pullback to the $0.06 support level.