Why did the price of FORM go up?

Four (FORM) jumped 20% in the last 24 hours even though the overall crypto market dropped by 2.41%. This follows a 30% rise from recent lows, driven by a short squeeze and strong technical signals.

1. Short squeeze action – Traders with big bets against FORM were forced to close positions.
2. Technical breakout – FORM broke through important price levels, showing upward momentum.
3. Low liquidity – Limited trading volume made price swings more extreme as FORM bounced back from its lowest point ever.

Deep Dive

1. Short Squeeze Boost (Positive for FORM)

What happened: FORM’s price jumped from $0.91 to $1.47 on September 28. At the same time, the amount of open contracts in derivatives nearly doubled to $26 million, and funding rates turned positive. This is a classic sign of a short squeeze, where traders betting against FORM had to buy back quickly to cover losses (Yahoo Finance).

Why it matters:

• Traders using high leverage (10 times or more) were forced to liquidate their positions as prices rose, pushing the price even higher.
• Positive funding rates (about +0.01% every 8 hours) show strong interest from buyers, putting pressure on those betting against FORM.

What to watch: Keep an eye on derivatives data. If open interest drops, it might mean the rally is losing steam. But if funding rates stay positive, the price could keep climbing.

2. Technical Breakout Signals (Mixed Outlook)

What happened: FORM broke above a key resistance level at $1.14, matching analyst Tryrex’s prediction of a move toward $2.29. The 7-day Relative Strength Index (RSI) is at 59.36, indicating there’s still room to grow, and the MACD indicator just turned positive for the first time since August.

Why it matters:

• The $1.27 level now acts as support. If FORM falls below this, the recent breakout might fail.
• Longer-term targets like $3.42 (based on Fibonacci retracement) are still far off, but short-term goals near $1.61 are realistic.

Key point: FORM needs to stay above $1.14 on shorter time frames (4-hour and 1-hour charts) to confirm the upward trend.

Conclusion

FORM’s recent price jump is driven by a mix of short squeeze dynamics and technical momentum. However, trading volume is relatively low ($392 million in 24-hour volume compared to a $511 million market cap), which means the price could reverse quickly. While the breakout looks solid, traders should watch for real buying interest to keep the rally going.

Watch closely: Can FORM stay above the 7-day exponential moving average ($1.19) as selling pressure increases near $1.47?

What could affect the price of FORM?

Four’s price is balancing between growing interest in GameFi and risks from low liquidity.

1. RWA Module Launch (Positive) – Adding real-world assets could increase activity on the BNB Chain.
2. Altcoin Market Trends (Mixed) – A neutral AltSeason Index at 56 limits widespread price rallies.
3. Leverage and Volatility (Negative) – High open interest ($26M) raises the risk of forced sell-offs.

Deep Dive

1. Real-World Asset (RWA) Integration & Ecosystem Growth (Positive)

Overview: Four launched its RWA module on September 8, 2025. This feature allows trading of real-world assets like company shares, mining rights, and intellectual property directly on the blockchain, focusing on projects within the BNB Chain. This follows the success of Project Matthew’s Initial Game Offering (IGO), where the MC token surged 1,433% in March 2024, along with upcoming mobile app releases.

What this means: Bringing real-world assets on-chain could attract institutional investors and increase demand for FORM tokens. However, there are risks if adoption is slow or if regulators impose stricter rules.

2. Altcoin Market Trends (Mixed)

Overview: The Altcoin Season Index is currently at 56, which is neutral. It has risen 12% over the past month but dropped nearly 10% in the last week (CoinMarketCap). FORM gained 28.55% in the past week, outperforming Bitcoin’s 58.2% market dominance. Still, competition from other projects like Sky Protocol, which has spent $75 million on buybacks, puts pressure on FORM’s market share.

What this means: FORM could benefit from targeted interest in GameFi projects during altcoin rotations, but its 30-day drop of nearly 67% shows it remains vulnerable to shifts in investor focus. To maintain momentum, FORM needs to keep users engaged better than its competitors.

3. Derivatives and Liquidity Risks (Negative)

Overview: FORM’s 30% price jump on September 28, 2025, was driven by a short squeeze, with open interest doubling to $26 million. However, a turnover ratio of 0.757 indicates low liquidity, which can worsen price drops if traders start selling off their positions (Yahoo Finance).

What this means: Although the Relative Strength Index (RSI) at 59.36 suggests some room for price growth, FORM’s nearly 66% decline over 60 days and high leverage create significant downside risk. If the price falls below $1.14, a key support level from September, it could trigger a wave of selling.

Conclusion

FORM’s future depends on whether the adoption of real-world assets can offset risks from low liquidity and market swings. The cyclical nature of GameFi and growth on the BNB Chain offer chances for recovery, but derivatives trading adds extra risk. Keep an eye on the $1.14 support level and on-chain data from the RWA module to see if Four can turn short-term price spikes into lasting value.

What are people saying about FORM?

The Four (FORM) community is buzzing with excitement over new all-time highs and talks of a short squeeze. Here’s what’s happening:

1. The project’s official account is celebrating a new all-time high (ATH)
2. Analysts note a 30% price jump, calling it a possible short squeeze
3. Moves between exchanges hint at growing support from bigger investors

Deep Dive

1. @FourFORM: Official celebration of new ATH 🚀 positive sign

“🎉 New All-Time High for $FORM! […] Let’s keep building, together.”
– @FourFORM (Official account · July 11, 2025, 01:50 UTC)
See original post
What this means: When the official team celebrates a new high, it usually means strong confidence among holders. However, for the price to keep rising, the project needs to deliver on its development goals.

2. Yahoo Finance: 30% price jump sparks short squeeze talk 🐻➚🐂 mixed signals

“FORM surged over 30% […] open interest nearly doubled to $26M with positive funding rates.”
– Yahoo Finance (September 28, 2025, 21:21 UTC)
Read full analysis
What this means: The price increase shows bullish momentum, but the trading volume is relatively low ($35M-$55M daily) compared to the market cap ($1.37B). This means FORM’s price could be more volatile, especially with leveraged trades involved.

3. INDODAX: Migration from BNX to FORM complete 🏛️ positive development

“INDODAX facilitates 1:1 swap […] FORM deposits and withdrawals live since March 24, 2025.”
– INDODAX Blog (March 11, 2025, 06:00 UTC)
See announcement
What this means: This move is a strong positive because it makes FORM more accessible on Indonesia’s biggest crypto exchange, which has about 10 million monthly visitors. This could bring in more retail investors.

Conclusion

Overall, the outlook for FORM is cautiously optimistic. The project has seen impressive growth this year (up 787% according to Bit2Me), but concerns remain about liquidity. Keep an eye on derivatives data—currently, a turnover ratio of 0.756 suggests moderate liquidity risk. If open interest rises above $26 million again, it could trigger another short squeeze.

What is the latest news about FORM?

FORM is experiencing big ups and downs—jumping on short squeeze rallies, dropping during shifts away from altcoins, and growing its real-world uses. Here’s the latest:

1. Short Squeeze Rally (September 28, 2025) – FORM jumped 30%, reaching $1.47 before settling at $1.31, driven by a surge in derivatives trading.
2. Sharp Drop in Altcoin Selloff (September 15, 2025) – FORM fell 8% as traders moved away from altcoins.
3. Launch of Real-World Asset (RWA) Module (September 8, 2025) – Four introduced a new feature to tokenize real-world assets like company shares and intellectual property on the BNB Chain.

In-Depth Look

1. Short Squeeze Rally (September 28, 2025)

What happened: FORM’s price shot up 30% from $0.91 to $1.47 as open interest (the total value of outstanding contracts) doubled to $26 million and funding rates turned positive. This was mainly due to short sellers being forced to buy back their positions (a short squeeze), with low liquidity making price swings more extreme. Trading volume on Binance and Bybit exceeded $404 million in 24 hours.
What it means: This price jump was driven more by leveraged trading than by steady buying interest. Breaking above the $1.14 resistance level shows some bullish momentum, but for FORM to keep rising, it needs less dependence on risky derivatives trading. Traders are now watching $1.30 as an important support level. (Yahoo Finance)

2. Sharp Drop in Altcoin Selloff (September 15, 2025)

What happened: FORM’s price dropped 8% to $2.14 during a broader selloff in alternative cryptocurrencies, while Bitcoin’s market dominance increased to 57.2%. This decline came as investors became more cautious ahead of Federal Reserve interest rate decisions.
What it means: FORM is sensitive to shifts in the overall crypto market. Although it bounced back later in September, the token’s 30-day loss of 67% highlights its high volatility. For FORM to perform well, it needs strong activity on the BNB Chain to offset wider market challenges. (Crypto Times)

3. Launch of Real-World Asset (RWA) Module (September 8, 2025)

What happened: Four rolled out a new Risk-Weighted Assets (RWA) module that allows trading of real-world assets like company shares, dividends, and mining rights directly on the blockchain. This is part of Four.meme, a sub-platform designed to help projects raise funds.
What it means: This move could expand FORM’s use beyond gaming and attract more institutional investors by connecting blockchain with traditional assets. However, success depends on clear regulations and adoption by projects on the BNB Chain. (Weex)

Conclusion

FORM’s recent price swings show it’s both a high-risk trading asset influenced by leverage and a growing ecosystem token working to link blockchain with real-world assets. While the new RWA module offers long-term growth potential, short-term prices will likely continue to be driven by derivatives trading. Will FORM hold above $1.30 and challenge its August highs, or will low liquidity cause another sharp drop?

What is expected in the development of FORM?

Four’s development is moving forward with these key milestones:

1. Ai Hero V2 Update (2025) – Introducing a full economic system that supports token and NFT deposits and withdrawals.
2. GameFi Ecosystem Expansion (2026) – Launching new games and improving staking and governance features.
3. Cross-Chain Integration (Long-Term) – Planning to connect with multiple blockchains for wider compatibility.

Deep Dive

1. Ai Hero V2 Update (2025)

Overview:
The Ai Hero V2 update, first mentioned in November 2023, will add a complete economic system that lets users deposit and withdraw tokens and NFTs. It includes Competition Mode, where players use Hero NFTs to compete for $FORM rewards, and Hero Mining, which lets users earn rewards by holding $FORM tokens.

What this means:
This update is positive for $FORM because it increases the ways people can use the token, especially through play-to-earn features and staking. However, there are risks if the update is delayed or if players don’t find the gameplay engaging.

2. GameFi Ecosystem Expansion (2026)

Overview:
Four plans to grow its GameFi offerings by building on past successes like PancakeMayor, which had 40,700 beta users in 2023, and Ai Hero. The roadmap includes launching new games, improving staking rewards, and adding governance options for $FORM holders.

What this means:
This is cautiously optimistic. Growth depends on keeping users interested over time. If successful, it could resemble the strong growth seen by BinaryX’s $BNX token in 2022. Still, the GameFi market is competitive, which could slow progress.

3. Cross-Chain Integration (Long-Term)

Overview:
Although no specific timeline is set, Four’s rebranding from BinaryX in March 2025 signals plans to expand beyond the BNB Chain. Experts suggest cross-chain compatibility could be next, according to Altcoin Season reports.

What this means:
This is a positive long-term goal because supporting multiple blockchains can bring more users and partnerships. However, it’s technically challenging and faces competition from other solutions like Ethereum Layer 2 networks.

Conclusion

Four’s roadmap aims to strengthen its GameFi features and broaden its ecosystem, with Ai Hero V2 as the near-term highlight. While there are promising factors, the $FORM token has dropped 55% over the past 90 days (as of October 2025), showing how sensitive it is to project milestones. The key question remains: will GameFi adoption grow fast enough to overcome overall market ups and downs?

What updates are there in the FORM code base?

Four’s recent code updates focus on growing its ecosystem and completing a rebrand.

1. Rebranding & Token Swap Completion (March 2025) – The project fully switched from BinaryX (BNX) to Four (FORM) across major exchanges.
2. GameFi Platform Upgrades (August 2025) – Added features like staking, governance voting, and a launchpad for new games.
3. Competition Mode Launch (Upcoming) – Plans to let players earn FORM tokens by competing with Hero NFTs.

In-Depth Look

1. Rebranding & Token Swap Completion (March 2025)

What happened: In March 2025, Four finished changing its name and token from BinaryX to Four. They swapped all BNX tokens for FORM tokens on exchanges such as Bitvavo and INDODAX at a 1:1 rate.

This move helped unify the project’s identity, bringing its gaming and meme-related activities under the Four brand. Technical updates made sure wallets and smart contracts worked smoothly with the new token.

Why it matters: This change clears up confusion from the old branding but doesn’t add new features or benefits to the token itself. Traders now have a clearer view of Four’s growing ecosystem after the swap.
(Source)

2. GameFi Platform Upgrades (August 2025)

What happened: In August 2025, Four improved its platform on the BNB Chain by adding staking rewards, governance voting (letting users help decide on project decisions), and a launchpad to support new GameFi projects.

These updates encourage users to stake FORM tokens to earn rewards and participate in governance, as well as get early access to new games. The platform also became faster, reducing transaction delays by about 15%.

Why it matters: These features could increase demand for FORM tokens as more users get involved in staking and governance. However, the success depends on how many new games join the platform.
(Source)

3. Competition Mode Launch (Upcoming)

What’s planned: Four’s Ai Hero game is preparing to launch a Competition Mode where players can earn FORM tokens by battling with Hero NFTs.

To enter a match, players must burn (destroy) one Hero NFT, which helps reduce the total number of NFTs in circulation. The team is still auditing the smart contracts to ensure security, which has delayed the release.

Why it matters: If launched successfully, this mode could boost FORM’s value by creating scarcity through NFT burns and rewarding active players. But delays or security issues could hurt user confidence.
(Source)

Conclusion

Four’s updates focus on building a stronger ecosystem rather than changing the core technology. The rebranding and new GameFi features improve visibility and user engagement. The upcoming Competition Mode has the potential to change the game by adding new ways to earn and use FORM tokens—if it’s launched securely. The key question is how Four will balance exciting NFT mechanics with long-term token stability.