Why Is TREE Up 9.44% While MET Drops 7.51%? Coinglass Data Explains Both

BREAKING

Two tokens are moving in opposite directions on September 12, 2026 — and the mechanism behind each move is readable directly from derivatives data. TREE is up 9.44% in 24 hours while MET is down 7.51% in the same window. The divergence is not random. It is structured by funding rates, open interest, and liquidation patterns that tell a precise story for each asset.

At the time of writing, TREE is trading at approximately $0.04289 with a market cap of $6.83M and $57.36M in 24-hour volume — an extraordinary volume-to-market-cap ratio of roughly 8.4x. MET is trading at approximately $0.2366 with a market cap of $133.49M and $170.05M in 24-hour volume, per Coinglass.

TREE’s 9.44% Rally — A Negative Funding Rate Squeeze

The primary catalyst for TREE’s 9.44% gain is a deeply negative funding rate of -0.4323% per Coinglass data. This is a mechanistically significant reading. When funding rates are this negative, short-sellers are paying longs to hold their positions — creating a structural incentive for shorts to close and a forced squeeze dynamic when price starts moving upward.

Here is the mechanism chain: a funding rate of -0.4323% means the market had aggressively positioned short against TREE. When price began recovering — up 0.82% in the most recent hour — those short positions faced margin pressure. Closures of short positions require buying TREE on the open market, which accelerates upward price movement. Coinglass data shows $23.22K in 24-hour liquidations, confirming that short positions are being forcibly closed.

Source: Coinglass, September 12, 2026

Why the Volume-to-Market-Cap Ratio Matters

TREE’s $57.36M in daily volume against a $6.83M market cap produces a ratio of approximately 8.4x. This indicates speculative derivatives activity that dwarfs the token’s spot market size — a condition that amplifies both upward and downward moves. The current RSI readings of 65.26 (1h), 59.84 (4h), and 58.28 (1d) show momentum building across timeframes but not yet at overbought extremes, per Coinglass.

MET’s 7.51% Drop — Elevated Open Interest With Positive Funding

MET’s decline presents the opposite structure. The funding rate sits at a near-neutral +0.0028% — meaning neither side is paying a significant premium. However, open interest stands at $20.99M against a market cap of $133.49M, representing roughly 15.7% of market cap in leveraged exposure. With $537.3K in 24-hour liquidations — the largest of the two assets in absolute terms — the data confirms that long positions were caught off guard by the price decline, per Coinglass.

Source: Coinglass, September 12, 2026

The RSI Divergence Between Timeframes

MET’s RSI of 64.10 on the daily contrasts with a neutral 50.06 on the 1-hour — indicating that the daily timeframe had become extended while shorter timeframes have already corrected. This divergence is consistent with a pullback after sustained strength, rather than a trend reversal signal. The daily RSI at 64.10 remains below the 70 overbought threshold, leaving room for the correction to find support before momentum re-evaluation.

Is the TREE Rally Sustainable?

The sustainability question for TREE centers on one metric: whether the funding rate normalizes. A funding rate of -0.4323% is extreme and unsustainable in either direction. If shorts continue closing and funding rate approaches 0%, the squeeze-driven component of TREE’s rally exhausts itself. The remaining bid would need to come from genuine spot demand — difficult to confirm given the $6.83M market cap and the speculative nature of the current volume structure.

The metric to track is Coinglass’s real-time funding rate for TREE. If funding moves from -0.4323% toward zero and volume begins normalizing below the 8x market-cap ratio, the squeeze is resolving. If funding turns positive, short-side pressure has fully reversed and a new positioning dynamic takes hold. The broader market context — Fear and Greed Index at 62/100 and Altcoin Season Index at 40/100 — suggests selective altcoin demand rather than broad market tailwinds, per Coinglass.

For further context on how liquidation data explains sharp crypto moves, see Why Is Ethereum (ETH) Up 3.11% Today? $303.98M in Liquidations Tell the Story.

TREE’s 9.44% move is mechanistically explained by a -0.4323% funding rate forcing short liquidations — $23.22K confirmed by Coinglass — against a volume base of $57.36M that is 8.4x the token’s market cap. MET’s 7.51% decline reflects $537.3K in long liquidations unwinding against $20.99M in open interest, with a daily RSI at 64.10 signaling prior extension. Watch Coinglass’s real-time funding rate for TREE as the single most actionable metric — when it approaches zero, the squeeze dynamic that drove this rally will have exhausted itself.

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Source: Coinglass +1 More · Published by CoinsProbe Markets Desk

Written by

Coinsprobe Markets Desk

Crypto journalist and analyst covering blockchain, DeFi, and digital asset markets at CoinsProbe.

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