Backpack (BP) Jumps 43% in a Day as RWA Sector Rebounds
- —BP gained 43% in 24 hours and 121% on the week, peaking at $1.3994
- —Short liquidations exceeded long liquidations by 73x
- —Total assets deployed on the protocol hit a record $604.75 million
- —Asset holders surged 204% to more than 242,000
Why it matters: BP's rally reflects capital rotation into the RWA sector, but negative CMF signals outflow and correction risk after the peak.
Source: AMBCrypto