Golden Finance reported that Matrixport’s latest report showed that the funding rate for Ethereum perpetual futures soared to an annualized rate of 18%, the highest level since May 2024. This signals a shift in market sentiment, with traders heavily longing ETH ahead of the U.S. presidential election, and traders are now buying ETH at a more attractive price after Ethereum prices retreated from $3,800 to $2,500. Additionally, BlackRock CEO Larry Fink hinted that Ethereum’s blockchain role could significantly increase, reflecting a shift in market focus. BlackRock is currently not only focusing on Bitcoin, but also sees Ethereum as an important digital asset alternative.