How Tezos whales helped XTZ surge 112% in the last month

Key Points

1. Tezos (XTZ) price surged 47.53% to a 6-month high of $1.22, with trading volume increasing by 1061% to $1.17 billion.

2. Whale activity significantly contributed to the rally, with buy volumes exceeding sell volumes on key dates (e.g., 72.2M vs. 71.72M on July 19).

3. Futures market data showed a 343% rise in Open Interest ($138M) and a 2832% spike in Derivatives Volume ($3.05B), indicating strong bullish sentiment.

4. Spot Netflow surged to an 8-month high of $4.5M, signaling increased exchange deposits and potential profit-taking risks.

5. Technical indicators like RSI (93) and CMF (0.27) suggest overbought conditions, raising concerns about a possible correction to $0.93 if profit-taking intensifies.