While most large-cap cryptocurrencies are falling sharply, Tensor (TNSR) has shocked traders by rallying more than 342% to $0.36 in the past 24 hours. Right now, it trades around $0.247, even though the rest of the crypto market is showing red screens.
The move is particularly surprising because cryptocurrency markets have been under broad pressure. Bitcoin and Ethereum have both declined, dragging down the majority of altcoins. Yet Tensor has created its own “private upward cycle,” leaving analysts and traders searching for explanations.
According to CoinGecko, the altcoin’s daily trading volume jumped sharply as TNSR took over the top gainer charts across major tracking sites. Despite the ongoing broader selloff, the NFT marketplace token is outperforming even Solana-based meme coins, building rare momentum in a fearful market.
What is behind Tensor’s price eruption?
Tensor is a non-fungible token (NFT) marketplace built on the Solana blockchain. It launched in July 2022 and gained early traction by providing liquidity and user tools for professional NFT traders. The platform’s native TNSR token functions as a governance asset and offers trading perks, such as commission discounts.
Interestingly, there is no clear fundamental trigger for the latest price explosion. The Tensor Foundation has remained mostly quiet for months, only recently mentioning an integration with Ryder One. This makes the sudden buying interest look more technical than organic.
From powering DRiP’s collectible drops to driving $100M+ in phygital RWA volume, @tensor_hq is the engine behind Solana’s thriving NFT economy.
— Ryder - Your crypto, forever yours (@Ryder_ID) November 19, 2025
And now?
Tensor ($TNSR) is officially supported on Ryder One. pic.twitter.com/2Pgl6MluI9
The sudden spike may be the result of a short squeeze. Data from Coinglass shows that TNSR’s funding rates had been deeply negative for weeks, meaning short sellers were paying longs to hold their positions.
When Tensor’s price stabilized after recent declines, traders betting against the token were forced to buy it back to close positions, sending prices soaring. This “mechanical unwind” created a domino effect of liquidations, which accelerated the rally further.
Funding squeeze and on-chain indicators
The funding-rate imbalance became critical when TNSR hovered near $0.035 and the rate sat around negative 3%. According to trader PlanEVO, this setup “created a tight spring that only needed a small push.” Once short positions started closing, “liquidity shifted in one direction and the price responded immediately,” creating the chain reaction that pushed Tensor’s price over 200%.
Honestly, I don’t know what happened to Tensor $TNSR, but I do know what started this pump.
— PlanEVO ☘️ (@gaininchain) November 20, 2025
> At the price of 0.035 we had a very high funding rate almost -3%.
> We got a strong pump-and-dump after people farmed that funding rate.
This means the positions were so big that when… pic.twitter.com/U5OqBuIKQc
On-chain analysis also reveals accumulation patterns just before the pump. A newly created wallet accumulated over 16.55 million TNSR (~$3.74 million) using a dollar-cost averaging strategy, buying more even as the price rose. The analyst tracking this movement noted:
“Smart money clearly positioned early and kept buying all the way up.”
Daily trading volume reportedly expanded by more than 270%, reaching $1.6 billion, underscoring how quickly liquidity flooded back into TNSR pairs on Solana-based exchanges and centralized platforms like Bybit.
Market structure and technical outlook
Tensor had been trading near historical lows just weeks ago. After hitting an all-time high of $2.23 in April 2024, the token dropped 94% amid the NFT sector’s collapse. Its rally toward the $0.36 mark now appears to be a sharp technical reversal backed by sudden liquidity dynamics.
Technical indicators currently paint a cautiously bullish picture. Short-term moving averages, such as the 3-, 5-, and 10-day EMAs, show buy signals, while the Relative Strength Index (RSI) stands around 65, reflecting a neutral-to-bullish setup.
Analysts, however, urge caution. Oscillators such as the Average Directional Index (ADX) indicate that momentum may be fading, suggesting the potential for a short-term cooldown or correction. Given the steep rise, some traders expect profit-taking and volatility to intensify in the coming sessions.
Speculation versus sustainability
The sustainability of this surge remains in question. Despite the triple-digit gains, fundamental activity across Tensor’s NFT marketplace remains subdued. Data from Dune Analytics shows daily trading volumes hovering near $20,000 with around 3,000 transactions, a fraction of what the platform recorded at its 2023 peak.
That disconnect between token price and platform performance could mean the rally is speculative. The sudden liquidations or short-term reversals are common after such squeezes, particularly when market liquidity is thin.
Still, Tensor’s dramatic move has reignited attention across Solana markets, reminding investors that even during crypto winters, isolated catalysts like funding imbalances or technical chain reactions can trigger massive surges.
Bottom line
The latest price action makes Tensor (TNSR) one of the most talked-about tokens of the week. Trading near $0.2470 after a surge, it highlights how fast sentiment and structure can shift in the crypto market.
While short squeezes and technical conditions appear to be the main triggers, sustainability will depend on whether renewed interest can translate into lasting trading activity on the Tensor marketplace. For now, TNSR’s stunning rebound shows that even in a bearish environment, volatility remains the crypto market’s defining trait.
Anastasiia G
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
