CHESS Pump +26.68% in 24h What's Driving It? Quick Analysis

CHESS (Tranchess) just surged +26.68% to $0.02426 (24h high $0.032271), with massive volume of 397.62M CHESS – clear buying pressure.
Main driver: Strong ecosystem momentum and buyback lockup effects.
Tranchess V2's Smart Yield module continues driving TVL growth (27% jump post KuCoin listing in recent months).
Ongoing token buybacks (team repurchased 10% of market cap since mid-2025) and locked supply (currently 18.9%) are tightening circulation and reducing sell pressure.
Whale accumulation: Large holders pulling CHESS off exchanges, signaling confidence.
Broader DeFi BNB Chain recovery spillover altcoins like CHESS benefit from market rotation into yield focused projects.
Other factors
High 24h volume confirms real interest (not just bots).
Binance-related volatility resolved (temporary halts ended, easing liquidity fears).
Technical view
Price broke above EMAs (bullish crossover).
Strong green candle from low $0.0171 to high $0.0322 momentum intact.
Risk: Overbought after pump possible short-term pullback or consolidation.
Is this sustainable? Short term hype from buybacks lockups and TVL growth is real, but long-term value depends on continued adoption of V2 features and DeFi recovery. Watch for volatility around any news or market rotation.
What do you think hold for more upside or take profits? Share your view below.

Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are extremely volatile and risky. The author may hold positions in mentioned assets. Always conduct thorough research and never invest more than you can afford to lose.