CoinEx News: On August 7, 2026, Fusionist (ACE) traded near $0.13–0.14 after rising nearly 95% in the prior 24 hours, according to CoinMarketCap. Spot volume reached about $131 million against a market capitalization of roughly $14.7 million, producing a volume-to-market-cap ratio above 900%. Futures volume on derivatives platforms climbed to around $333 million—several times the spot figure—with open interest near $27 million, exceeding the token’s market cap.

Short liquidations accounted for the majority of the roughly $1.14 million in futures positions closed over 24 hours (CoinGlass data: short $731K vs long $410K). The combination of elevated open interest relative to market size, futures volume dominance, and continued short-side liquidations remains consistent with forced covering contributing to the move. Liquidity is still thin for a token of this size, so sharp reversals remain possible.