Odaily Planet Daily News CryptoQuant analyst Burak Kesmeci wrote in a report on September 12: "Looking at the data from September 2023, we can see that the ETH funding rate hovered between 0.002-0.005. This is a fairly low rate for a bull market cycle. After that, as the funding rate stabilized above 0.015 (with the support of the futures market), we witnessed the price of ETH soar from $1,500 to $4,000. Now looking at September 2024, we notice that the funding rate has been at a similar level for nearly a month, starting in August. I can't say whether history will repeat itself, but it certainly has a rhythm. Based on our past experience, the crypto market tends to pick up in the last quarter after a calm (and holiday-filled) summer. To see another parabolic rise in ETH, we need positive signals. Support from the futures market has played an important role in this rebound. We will wait for ETH's funding rate to rise to 0.015. Funding rates above this level are critical to tracking healthy growth during a bull market.”