Analysis: PLAY Surges 300% in One Hour as Aggressive Bullish Buying Spurs Arbitrageurs to Purchase Spot
Show original
According to Foresight News and analysis by @ai_9684xtpa, the PLAY token surged 300% within one hour. However, unlike MYX, its funding rate at the peak was 0.2917%, indicating that aggressive buying by bulls prompted arbitrage funds to purchase spot tokens. This price increase was driven by contract buy orders, without intense long-short battles. The bulls were unable to force the bears to capitulate and pay profits through high funding fees.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$87,657.3
+1.70%
Ethereum
ETH
$2,952.9
-0.17%
Tether USDt
USDT
$0.9998
-0.01%
BNB
BNB
$872.83
+2.04%
XRP
XRP
$1.93
+1.78%
USDC
USDC
$0.9999
-0.01%
Solana
SOL
$128.55
+1.30%
TRON
TRX
$0.2806
+0.74%
Dogecoin
DOGE
$0.1316
+1.85%
Cardano
ADA
$0.3851
-0.30%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now