Cap [CAP], the credit-backed platform’s native token, rallied 24% over the past 24 hours, outperforming many top-200 cryptocurrencies.

Spot and perpetual market activity accompanied the gain, with bullish positioning suggesting potential for further upside. However, whether that momentum lasts could depend on buyers’ willingness to hold as leveraged exposure grows.

What do CAP’s Funding Rates suggest?

CAP crypto’s Funding Rate stood at 0.0208%, indicating that traders holding long positions were paying those holding shorts. The positive reading suggested bullish positioning in the perpetual market.

However, the Funding Rate alone could not establish whether traders were overexposed or whether further gains would follow.