VIC Crypto Explodes 60% in 24 Hours – Early Signs of a Mega Rally?

VIC just pulled off a gravity-defying stunt—soaring 60% in a single day while Bitcoin flatlines. Retail FOMO or institutional chess move?

Behind the pump: Thin order books or real demand?

Technical breakout or classic ‘buy the rumor’ crypto volatility? The charts scream bullish, but seasoned traders know these parabolic moves often end in tears (or Lambos).

One thing’s certain: Wall Street bankers are somewhere seething that a token named after a meme is outperforming their precious ETFs.

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.

Source: 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.

Source: CoinGlass

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.

Source: 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.

Source: Nansen

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