hold or not - Ethereum Perpetual Futures Funding Rate Peaks at Highest Since May 2024!

BTC $65716.401 1.71%

ETH $2618.1 3.50%

BNB $584.902 0.64%

XRP $0.546 1.31%

BTC ETH BNB ADA SOL AVAX DOGE LINK TRX

USD EUR GBP JPY AUD CAD CHF CNY

Convert

LIVE UPDATES • Ethereum Perpetual Futures Funding Rate Peaks at Highest Since May 2024! • QuickShock – How to find profitable crypto projects in a bull market? Networking with Best Crypto Marketing Agency • Len Sassaman: The Cryptographer Likely Suspected to Be Satoshi • Missed To Invest In Arbitrum? Here’s Why Qubetics Could Be Your Second Chance • Top Wallets on TON Network You Should Choose in 2024 • FTX SOL Staking Withdrawals Total $28M, Eyeing Coinbase & Binance • Sui Foundation Token Transfers Draw Exchange Scrutiny • US Ethereum Spot ETF Net Inflow Reaches $17 Million! • dYdX Trump Perp Prediction Market Launched for 2024 Election • VanEck AI Robots Powering Meme Coins at Peak Consciousness!

News Ethereum Perpetual Futures Funding Rate Peaks at Highest Since May 2024! 1 min - Around 2 mins mins to read

Key Points:

Ethereum perpetual futures funding rate skyrocketed to an annualized 18%+, the highest since May 2024, indicating bullish market sentiment.

Traders are capitalizing on ETH’s price drop from $3,800 to $2,500, viewing it as an attractive entry point ahead of the US presidential election.

BlackRock CEO Larry Fink highlights Ethereum’s enhanced blockchain potential, signalling a shift in focus from Bitcoin to including ETH as a key digital asset.

According to the latest report from Matrixport, the funding rate of Ethereum perpetual futures has reached an annualized 18% plus for the first time since May 2024.

Ethereum Perpetual Futures Funding Rate Hits New High Since May 2024

Ethereum perpetual futures spike indicates that market sentiment has flipped into taking a heavily long position on Ethereum in anticipation of price moves surrounding the US presidential election.

Since ETH’s price decreased from $3,800 to $2,500, traders have taken advantage of a much more financially viable token valuation. The present market structure indicates investors’ optimism about Ethereum’s potential recovery, at least if recent trends in this digital asset are anything to go by.

Read more: Ethereum Founder Vitalik Buterin Makes Over $600,000 Profit in Meme Coins

BlackRock Signals Growing Interest in Ethereum as a Key Digital Asset

BlackRock CEO Larry Fink expressed an improvement in Ethereum’s blockchain role. He stressed that BlackRock has focused on Bitcoin and sees Ethereum as an essential alternative in the digital asset sector. This shift in focus by one of the world’s largest asset management companies reflects broader market trends and the growing appreciation of Ethereum’s value proposition.

The sentiment in Ethereum is thus evolving going into the election. To many, it represents a catalyst of innovation that could mean Ethereum plays a meaningful role in the future of digital finance. Therefore, it would be likely that dynamics between political events and market strategy will continue to shape investor behaviour and give Ethereum a special place in the following months.

Ethereum Ethereum Futures Ethereum Perpetual Futures Ethereum Perpetual Futures Funding

Author Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Ethereum Perpetual Futures Funding Rate Peaks at Highest Since May 2024! - Coincu