Glassnode: The funding rate of mainstream crypto assets is declining, indicating a lack of strong buying demand in the market

Golden Finance reports that Glassnode data shows that the hourly funding rates of mainstream crypto assets (BTC, ETH, SOL, XRP, DOGE) have not yet recovered to the levels seen during the bull market from November to early December last year. This indicates a lack of strong buying demand in the market. Looking at the 168-hour moving average funding rate, all major assets especially Bitcoin showed positive momentum at the beginning of last week. In contrast, Solana has been in a downward channel for its funding rate since December last year. This data suggests that despite high overall market valuations, investors' willingness to go long has significantly weakened and market sentiment is becoming cautious.