Ethereum Funding Rate Suggests Potential Surge, Analyst Says

According to Odaily, CryptoQuant analyst Burak Kesmeci has indicated on platform X that the current funding rate of Ethereum may signal an imminent significant increase. Kesmeci analyzed Ethereum's funding rate data over the past year and identified two similar 'calm before the storm' periods. In September 2023, the funding rate fluctuated between 0.002 and 0.005 before breaking through 0.015, leading to Ethereum's price soaring from the $1,500 range to over $4,000. In September 2024, Ethereum's funding rate has remained at a similar level for nearly a month. Kesmeci stated, 'While it is uncertain if history will repeat itself, there is indeed a certain pattern in the market.' He noted that the crypto market typically becomes active in the fourth quarter after the holiday-heavy summer season. Kesmeci advises investors to closely monitor whether the funding rate breaks the critical threshold of 0.015, considering it a core indicator of healthy growth during a bull market cycle.