According to Wu Blockchain: "The burning amount of Ethereum reached 3040 on February 2, reaching a new high since November 10 last year. The main burning sources are Uniswap and OpenSea. The cryptocurrency greed index has remained around 60 for several days."

According to data from Coinglass, the funding rate for ETH on Binance is still positive. To assess the sentiment of leverage traders, analysts monitor the funding rate. The more excited that traders are about price prospects and the more willing they are to pay a premium to maintain their upside bets, the higher the funding rate.