Matrixport: The funding rate for Ethereum perpetual futures has reached its highest level since May 2024

ChainCatcher news, according to Matrixport's latest report, the funding rate for Ethereum perpetual futures has surged to an annualized 18%+, reaching its highest level since May 2024.

This indicates a shift in market sentiment, with traders heavily going long on ETH ahead of the U.S. presidential election. After the price fell from $3,800 to $2,500, traders are now buying ETH at more attractive prices.

Additionally, BlackRock CEO Larry Fink hinted that the role of Ethereum's blockchain could significantly increase, reflecting a shift in market focus. BlackRock is currently not only focused on Bitcoin but also views Ethereum as an important alternative digital asset.