#ETHEREUM OUTPACES #BTC IN GROWTH AFTER FEDERAL RATE CUT
The second-largest cryptocurrency by market cap has outpaced Bitcoin in growth following the Fed’s recent 50 bps rate cut.
Digital gold has risen 7.3% in the past seven days; Ethereum has risen 14.1%.
Following the US monetary easing, Ethereum-based perpetual futures funding rates have turned positive — 0.0069% at the time of writing, according to CoinGlass.
In an interview with The Block, YouHodler exchange top manager Ruslan Lienkha emphasized that the current situation indicates a predominance of bullish sentiment. He noted the risks of a possible correction in the event of excessive optimism or a change in external factors.
“The positive funding rate on Ethereum reflects increased demand for long positions using leverage,” the expert explained.
