PLAY Surges 300% in One Hour, Low Funding Rates Indicate Bullish Momentum

According to a report by Jinse Finance, analysis from @ai_9684xtpa shows that the PLAY token surged 300% in the past hour. Unlike the short-term price fluctuations seen with MYX, PLAY’s funding rate was only 0.2917% at its peak, indicating that the rally was mainly driven by strong buying from bulls, with arbitrage funds simultaneously purchasing spot positions. This trend was propelled by active buy orders in the derivatives market, without triggering intense long-short battles. Bulls were unable to force shorts to close positions through high funding rates, so the overall market structure leaned toward a one-sided buying push.