JASMY +15.6% to $0.00516: OI Up 91%, Funding Stays Negative
JASMY Jumps 15.6% on Broad Buying
JASMY rose 15.6% in the last 24 hours to $0.00516, after printing a low of $0.00443 and a high of $0.00529. Binance, Bybit and KuCoin all show gains near 15.5%, so the move is consistent across liquid venues rather than a blip on one thin order book. Binance spot volume reached roughly $32.8 million in the window, well above the usual level for this token.
Open Interest Climbs 91% to $28M, MEXC Leads the Build
Derivatives tell a bigger story than the price. Total open interest rose 91.4% to $28.0 million in 24 hours, one of the fastest leverage builds among mid-cap altcoins right now. MEXC alone holds 49.6% of that pool after adding 134%, and KuCoin grew 130% to a 14.5% share. Binance and Bybit, the two most liquid venues, expanded their own positions 54% and 46%. The pace is still accelerating: in the last four hours MEXC added another 37% and Binance 18%.
Funding Stays Negative: Shorts Are Paying for the Rally
The odd part is funding. Perpetual funding on Binance sits at -0.0347% and MEXC at -0.0345%, which means short sellers pay longs at every funding window. Bybit is the only major venue with a slightly positive rate at 0.01%. Price rising while funding stays negative means shorts keep pressing into the move, the classic fuel for a squeeze. It also tells you the rally is not yet backed by a crowd of fresh longs, so a funding flip to positive would be the real signal that sentiment has turned.
What to Watch Next
JASMY now trades close to its 24-hour high of $0.00529. If shorts keep adding at these levels, a break above that high could trigger a fast squeeze, and the 91% open interest build gives it ammunition. The flip side is just as real: with leverage this fresh, a failed push above $0.0053 would unwind longs quickly. The altseason index sits at 54, neutral, so there is no broad altcoin tailwind forcing this higher on its own. Watch funding first, then the high.
Data as of 01:53 Beijing time on August 26, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges.