JELLYJELLY experiences extreme perpetual futures price divergence, with funding rate reaching an extreme negative value

BlockBeats News, March 10th, according to HTX market information, there is an extreme price difference between the JELLYJELLY contract and spot markets. The current perpetual contract mark price is $0.067, while the on-chain spot price is $0.092, with a price difference of approximately 28%. The current funding rate on the mainstream JELLYJELLY contract platform has reached an extreme negative value, with the funding rate now at -2% per 4 hours.

The current on-chain market value of JELLYJELLY is $93 million. Additionally, according to Coinglass data, the total open interest of JELLYJELLY on the entire network has surged to $39.2 million.

Analyst Ai Yi (@ai_9684xtpa) stated that the total open interest of JELLYJELLY surged around 1 p.m. and may indicate a repeat of a previous coin price manipulation.