Is the manipulation of incentives by JELLYJELLY starting again? 👻 ▶︎ On-chain market capitalization: $89.95 million ▶︎ Binance futures market capitalization: $67.17 million Current spot-futures price spread is as high as 34% — The price anomaly appears to have started around 9 AM this morning, with the first small price peak occurring around 10 AM. However, when the on-chain price surged again around 2 PM, the futures price unusually fell, resulting in a significant price spread. Binance JELLYJELLY's latest futures open interest is $9.96 million, surging around 1 PM; currently, funding fees are -2%, meaning a large amount of capital is short regardless of price, suggesting something else is brewing after Hyperliquid…
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