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Analysis: PLAY Surges 300% in One Hour as Aggressive Bullish Buying Spurs Arbitrageurs to Purchase Spot
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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.
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