OP +13.5% to $0.110: OI Jumps 18.7%, 4H Longs Return

OP broke out of its range on Saturday as the broader altcoin rebound broadened, climbing 13.5% to $0.1103 with open interest rising 18.7% to $68.3 million. The move stands out because leverage is coming back into the token at a moment when funding costs are still at baseline, which usually leaves room for the rally to extend before it gets crowded.

OP pushes toward the $0.1126 high on real volume

The token hit an intraday high of $0.1126 before easing back slightly. The 24-hour low sat at $0.0971, which means buyers stepped in around the $0.097 level and defended it through the European and US sessions. Spot volume reached roughly $40.8 million on Binance alone, with another $15 million on OKX, so the breakout is backed by actual turnover rather than thin order books.

What makes this different from the meme-led moves earlier in the week is the base. OP is trading off a sustained climb rather than a single squeeze, and the percentage gain is moderate compared with the 200% type spikes seen elsewhere. That gives the move a better chance of holding support on any pullback.

Open interest adds 18.7% and 4-hour flows flip long

Derivatives data shows open interest building to $68.3 million, up 18.7% over 24 hours. The increase is broad-based across venues: Binance added 16.4%, OKX 18.0%, and Bybit 16.0%. More telling is the 4-hour snapshot, where every major venue is adding at the same time. Binance positions grew 10.5% in the last four hours, OKX 16.8%, and Bybit 12.7%.

Synchronized 4-hour inflows across the top three venues are a signal that new longs are opening rather than existing positions being rolled. When only one exchange shows growth, it is often a single large account or market maker adjusting inventory. Broad growth points to genuine directional demand.

Funding at 0.01% means the rally is not yet overheated

Perpetual funding across Binance, OKX and Bybit sits at 0.01% per 8 hours, roughly the neutral baseline. Compare that with tokens such as AKE or SUSHI during their runs, where funding went negative as crowded shorts fought crowded longs. OP has no such imbalance right now. Neither side is paying a heavy premium to hold positions, and that keeps the setup healthy.

For traders the implication is straightforward. If the token breaks and holds above $0.1126 with open interest still climbing, the next reference zone is the round $0.12 area. If funding jumps above 0.03% in the next few funding windows, that would flag late longs piling in and raise the risk of a sharp unwind on any rejection.

Data as of 07:05 Beijing time on September 6, covering Binance, OKX, Bybit, Gate, Bitget, Hyperliquid and other major exchanges.