First Neiro on Ethereum (NEIRO) Leads Market Gains, Touches All-Time High

NEIRO Futures Open Interest. Source: Coinglass

Moreover, NEIRO’s funding rate across cryptocurrency exchanges has been persistently positive, confirming the bullish bias towards it. As of this writing, this is 0.0077%.

A positive funding rate can indicate strong bullish sentiment in the market, as more traders are willing to go long. It signals that more traders expect the price to continue rising than those anticipating a decline.

NEIRO Funding Rate. Source: Coinglass

However, NEIRO’s price surge has also led to a spike in speculative trading, as evidenced by the gradual decline in its mean coin age over the past week. This metric, which tracks the average age of all coins in circulation, has registered a 51% fall in the past seven days.

When an asset’s mean coin age drops, it suggests that more speculative traders are entering the market and buying and selling coins for short-term gains rather than holding for the long term.

NEIRO Mean Coin Age. Source: Santiment

NEIRO Price Prediction: 41% Drop If Profit-Taking Spikes

A dip in an asset’s mean coin age typically signals profit-taking and a shift in market sentiment. If this triggers increased selling pressure, NEIRO’s price could risk losing recent gains, potentially dropping by 41% to as low as $0.00097.