SOON Rises More Than 40% as Derivatives Activity Surges

SOON rose more than 40% over 24 hours by 5:30 a.m. ET (09:30 UTC) on Sept. 30, with heavy derivatives activity adding momentum to the move.

Open interest, which measures the value of active futures contracts, reached $92.28 million over the prior 24 hours. The open-interest-weighted funding rate was 0.0091%, while perpetual-market flow totaled $242.83 million, including $10.17 million in netflow.

SOON also recorded $3.93 million in spot-market volume over the period, with negative netflow of $36,550. A later market snapshot showed the token at $0.4177, up 34.35%, with $398.11 million in futures volume and $85.60 million in open interest.

Binance co-founder Changpeng Zhao posted “Soon…” on Sept. 29, without identifying the token. SOON’s team separately teased an AI-agent perpetual trading platform that would require SOON for trading and direct revenue toward buybacks and burns. Its launch timing and economic details were not announced.