Bought a $60K position in $IN, decision-making logic took 5 minutes. Let me break it down for you: 1. Bybit contract hub, negative fee rate -0.3%, harvesting every 4 hours. Contract OI is increasing, and there's volume starting to build at the bottom, making it easy to trigger a short squeeze. The candlestick chart looks fine, seems like it's about to break out of the bottom range. 2. Checked out Selini/小黑/Eletric Capital/Bybit parent fund/Bankless—all invested. Could market-making also be handled by Selini? If so, that's something to consider. 3. Alpha from wash trading—honestly, you can't tell much from the trading volume. On-chain token structure shows roughly 57% controlled by 10 treasury addresses, and 98% controlled by 25 addresses. Previously, the address (0xb1b2...e8404) was the main selling address, purely offloading 36.1M IN (around $3.9M USD). 4. Since it’s not listed on Binance Spot, the key references are on-chain or CEX. The 2% depth on Biget is about $10K—if you were the market maker, how would you play this? Surf helped me summarize it: https://asksurf.ai/share/40a49b92-a925-4a96-a236-983571f11a8e