The entire crypto market declines, funding rates turn negative
BlockBeats news, on July 17, according to data from a certain exchange, Bitcoin is currently quoted at $62,970.53, a 24-hour decrease of 1.76%; Ethereum is quoted at $1,832.07, a 24-hour decrease of 2.81%.
CoinGlass's latest data shows that BTC's weighted funding rates for positions and trading volume are 0.0041% and 0.0030% respectively, while ETH's two weighted rates are both 0.0045%, all below the bearish threshold of 0.005%. Overall bearish sentiment in BTC and ETH is clear, ETH's weighted rate is slightly higher, and market sentiment is relatively stronger than BTC.
BlockBeats note: Funding rates are rates set by cryptocurrency trading platforms to keep perpetual contract prices balanced with the underlying asset prices and are a mechanism for fund exchange between long and short traders. The trading platform does not charge this fee. When the funding rate is 0.01%, it represents the benchmark rate; higher than 0.01% indicates bullish sentiment in the market, while lower than 0.005% indicates bearish sentiment in the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Samsung increases investment in AI infrastructure! Invests 1 billion USD in Helix Digital, owned by KKR (KKR.US)
Several subsidiaries of Samsung Group have agreed to invest a total of $1 billion in Helix Digital, a U.S. company backed by private equity giant KKR, further expanding the Korean conglomerate's presence in the rapidly growing artificial intelligence infrastructure market.
More than 20 billions spent this year! Eli Lilly (LLY.US) CEO: We will target “white spaces” in pharmaceuticals and continue to pursue larger-scale mergers and acquisitions.
Eli Lilly CEO Dave Ricks stated that investors can expect the company to pursue larger-scale deals, as it is extensively searching for assets in the "white spaces" of the scientific field.
Is the “AI bank run” coming? Apollo warns: AI assistants may drain banks' cheap deposits, which will pose risks to the financial system
Torsten Slok, Chief Economist at Apollo Global Management, stated that if consumers begin to heavily rely on AI assistants such as Muse under Meta and transfer cash to higher-yielding accounts, it could pose risks to the financial system.
Crypto prices
More
