According to CryptoQuant contributor ShayanBTC, the 30-day moving average (MA) of the Ethereum (ETH) perpetual futures market funding rate has flipped bullish after a prolonged period of decline. This indicates increased buying activity among futures traders and could drive further price increases for ETH. The ETH perpetual futures funding rate is a measure of the premium or discount that futures traders are willing to pay to hold a long or short position. A positive funding rate indicates that there is more demand for long positions (bets that the price of ETH will rise), while a negative funding rate indicates that there is more demand for short positions (bets that the price of ETH will fall). The recent increase in the ETH perpetual futures funding rate suggests that traders are becoming more bullish on ETH and believe that its price will continue to rise. If this trend continues, it could provide further support for ETH's recovery and drive it to higher price levels. At the time of writing, ETH is trading at $2,620.42, down 1.22% in the past 24 hours. However, the recent bullish trend in the futures market funding rate could be a sign that ETH is poised for further gains in the coming weeks.