Ethereum’s recent rally above the $3700 price mark has been accompanied by a rise in the coin’s funding rates across cryptocurrency exchanges.
recent rally above the $3700 price mark has been accompanied by a rise in the coin’s funding rates across cryptocurrency exchanges. According to a pseudonymousWhen an asset’s futures funding rates witness a surge and are significantly positive, it suggests that there is a strong demand for long positions. It is considered a bullish signal and a precursor to an asset’s continued price growth.ETH’s value has increased by 59% in the last month.
A rising open interest paired with positive funding rates suggests significant bullish activity. It means that market participants continue to place bets in favor of a price rally.“However, while rising funding rates typically accompany a bullish market sentiment, excessively high values can be dangerous. Elevated rates increase the risk of long liquidation cascades, which may result in heightened market volatility and unexpected corrective movements.
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