Market Sentiment Turns Bearish as Funding Rates Decline

According to BlockBeats, recent data from Coinglass indicates that funding rates across major centralized and decentralized exchanges have shifted towards a bearish outlook. The funding rates for key cryptocurrencies are detailed in the accompanying data. Funding rates are a mechanism used by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. This rate facilitates the exchange of funds between long and short traders, without the platform charging a fee, to adjust the cost or yield of holding contracts, ensuring contract prices remain close to the asset prices source: https://www.binance.com/en/square/post/23747288558985?utm_source=BinanceNewsRSS