$GWEI Surges 38% After Coinbase Listing Slump, Is $0.064 Next?

ETHGas [$GWEI] staged a surprising recovery after plummeting to near $0.019 just days ago, when it slipped below its Coinbase listing price of $0.039.

The token's prices surged 38% over the past 24 hours to near $0.0275, making it one of the strongest performers in the market, according to CoinMarketCap.

One reason for this sudden turnaround is the influx of fresh capital entering $GWEI futures markets, as evidenced by a nearly doubled Open Interest of $14.85 million, per AMBCrypto's derivatives analysis.

The market positioning also favored the bulls, with long positions holding roughly 57% of total Open Interest, according to Coinalyze data on the 1-day timeframe.