Why did Lombard BARD increase twofold in two days and then drop by 32% from its peak? On Nov. 12, 2026, at 16:30 UTC, BARD increased from $0.0916 to $0.1158 on Binance spot, and Lombard has posted nothing on X since Nov. 10 explaining this fact.
Lombard BARD increases after 16:30 UTC
The trading range of BARD between Nov. 11 evening and 15:00 UTC on Nov. 12 was between $0.0799 and $0.0886 on Binance perpetual. In that hour of 16:00 UTC, Binance perpetual made a volume of $19.2 million whereas earlier in the 22 hours, its volume was between $0.1 million and $0.9 million.
The highest spot price was $0.1799 in the 12:00 UTC hour on Nov. 13, an increase of 117% from the $0.083 close on Nov. 11. As of 17:00 UTC on Nov. 14, Lombard BARD is 32% lower than its spot peak and is 9% higher than its price seven days ago.
No Lombard announcement matches the move
The latest post in the Posts tab of the X account of Lombard is dated Nov. 10, which discusses the October performance report for their LBTC product. The account does not make any mention of BARD, listing, partner, or buyback on either Nov. 12 or Nov. 13. There was also no BARD mention in Binance’s new listing announcement feed on those days.
The reason behind the surge on Nov. 12 is unknown.
The open interest doubled while shorts continued paying
The open interest on Binance’s BARDUSDT perpetual was 24.6 million BARD at 15:00 UTC on Nov. 12. At 18:00 UTC, it became 49.8 million and reached its maximum of 81.1 million at 12:00 and 15:00 UTC on Nov. 13, becoming 3.3 times larger. As of 15:00 UTC on Nov. 14, the open interest was 65.0 million, 2.6 times the starting level.
However, funding continued to be negative for all 12 points of settlement throughout the period between 20:00 UTC on Nov. 12 and 16:00 UTC on Nov. 14, meaning that shorts had to compensate the longs. The highest funding was 1.91%, lasting four hours, at 12:00 UTC on Nov. 13. The fee at 16:00 UTC on Nov. 14 was 0.35%.
Upbit now trades more than Binance
Since CoinGecko has rated Lombard BARD as 421st, the market cap for the coin comes to about $48 million with 396.6 million out of 1 billion coins available in circulation. The 24-hour trading volume of BARD across various exchanges as of approximately 17:00 UTC on Nov. 14 stood at $21.3 million on Upbit and $11.3 million on Binance. Correlation of BARD with Bitcoin for the last 30 days was -0.09, so the moves did not follow the market, which was down 4.0% on Nov. 14.
Two price scenarios starting from $0.1163 low
Bitcoin at around $65,300 is trading below its 100-day moving average of $77,762 and BARD is trading within its range, so neither case has a trend behind it. Crypto is volatile and holders can lose money; this describes levels, not advice.
On Binance’s perpetual, a one-hour close above $0.1440, the Nov. 14 high, opens $0.1732, the Nov. 13 high, and fails on a one-hour close back below $0.1433. A one-hour close below $0.1163, the Nov. 14 low, opens $0.1135 and then $0.1016 and fails on a one-hour close back above $0.1169.
All data in this report has been obtained from Binance, CoinGecko, Upbit and Lombard’s X account.
