BTR price surge explodes 300%, what am I missing here?

I was checking exchange volume today and noticed something that honestly surprised me. BTR (Bitlayer) had its 24h futures trader count rank #2 on mexc, right behind BTC.

I know it just pumped over 300%, but seeing a medium-cap BTC L2 token draw this level of leverage volume was not on my radar.

Looking into it a bit, a move like this usually comes down to short squeezes, thin order books, or pure momentum chasing. But since Bitlayer is supposed to be building out the BTC DeFi ecosystem, I’m curious if there’s actual fundamental interest here or if this is purely a leverage game that’s bound to crash.

Are you guys buying/holding BTR for the long term, or trading the volatility? What’s your outlook once funding rates cool down?