JELLYJELLY Sees Spike in Open Interest Amid Manipulation Suspicions

Unusual Market Activity Raises Concerns

According to recent data monitored by Arkham, JELLYJELLY has experienced a significant surge in open interest, raising alarms about potential market manipulation.

Concurrent Changes Across Multiple Platforms

Analysis shows a sharp increase in open interest on OKX and Bybit, while a steady accumulation is observed on exchanges like MEXC, Kucoin, and Bitget. This synchronized movement across platforms has added to market uncertainty.

Price and Trading Metrics Reveal Risks

• JELLYJELLY rose 24% in the last 24 hours, currently trading at $0.069.
• Data from Coinglass indicates a 24-hour futures trading volume of $104 million, with spot trading volume at just $1.45 million.
• The token's market cap is currently estimated at $68.21 million, highlighting both market activity and underlying risks.

Market participants are advised to closely monitor developments to prepare for potential volatility or anomalies.