Binance Coin [BNB] is showing signs of weakness in the perpetual futures market. Coinglass' data showed that this month, it...
data showed that this month, it has experienced the most negative funding rates of the top five leading crypto assetsInformation retrieved from the data provider revealed that between the 4th and 8th of April, the coin’s funding rate across exchanges was negative.
Conversely, when the contract price is lower than the spot price, short traders pay a fee to traders holding long positions, resulting in negative funding rates. Thirdly, BNB’s quick rebound in the futures market contrasts with Ethereum’s steadier, more predictable market movements. Fourthly, the negative funding rates experienced by BNB highlight a market sentiment that differs markedly from Ethereum, which typically enjoys a more balanced view among traders.
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