Notcoin Surges 25% on June 13, Open Interest Hits $7.8M in 24 Hours

According to AMBCrypto, Notcoin (NOT) surged 25% on June 13, driven by rising retail interest tracked via Google Trends data. Perpetual market Open Interest climbed sharply to $7.8 million, with roughly 90% of that capital arriving in the past 24 hours across Binance and Bybit exchanges, each holding $3.1 million in positions.

Despite the rally, derivatives data revealed a bearish signal: traders positioned for a decline, with the Funding Rate turning sharply negative to -0.1221% as short exposure increased, suggesting selling pressure was intensifying despite price gains.