Ethereum Derivatives Market Shows Optimistic Investor Sentiment

According to BlockBeats, on September 26, TheBlock reported that indicators in the Ethereum derivatives market suggest a growing optimism among investors. Julio Moreno, Head of Research at CryptoQuant, noted that the 30-day moving average of funding rates has turned positive, indicating an increase in bullish sentiment among futures traders. Moreno highlighted that this upward trend follows a prolonged period of decline, suggesting that market participants may be shifting towards a more optimistic outlook. Data from Coinglass reveals that since the Federal Reserve's interest rate cut on September 18, the weighted funding rate for Ethereum's open interest has been trending positively, currently standing at 0.0089%. Analysts at QCP Capital also observed improvements in funding rates across major trading platforms, attributing this to the recent rate cut. Since the Federal Reserve's rate cut, Ethereum's price has surged by over 17%, outperforming Bitcoin's 10% increase during the same period.