According to Odaily, Matrixport has released new data indicating that the funding rate for Ethereum perpetual futures has soared to an annualized rate of over 18%, marking the highest level since May 2024. This surge suggests a shift in market sentiment, with traders heavily buying ETH ahead of the U.S. presidential election. Following a price drop from $3,800 to $2,500, traders are now purchasing ETH at more attractive prices.
Additionally, BlackRock CEO Larry Fink has hinted at a significant increase in the role of Ethereum's blockchain, reflecting a shift in market focus. BlackRock is now not only concentrating on Bitcoin but also considering Ethereum as a crucial digital asset alternative.
