Following Donald Trump’s victory in the US presidential election on November 5, Ethereum (ETH), alongside the general cryptocurrency market, has experienced notable price gains. In particular, the second-largest cryptocurrency has witnessed its value increase by 24.31% in the past four days as it approaches a crucial $3,000 resistance zone. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? Ethereum Prepares For Potential Surge As Funding Rates Hit 0.02 Amidst the recent price rally in the last week, crypto analyst Burak Kesmeci notes that Ethereum funding rates have now climbed above 0.02, which can be described as a strong bullish signal. Generally, funding rates are periodic payments made between traders in the perpetual future contracts during funding intervals. A funding rate of 0.02 indicates long position domination and demands that long traders pay 2% of the notional value of their position to short traders in order to maintain the price of perpetual contracts close to the spot market price of an asset. According to Kesmeci, long positions in futures markets are crucial to initiating strong ..
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