A key indicator called permanent financing rate is to indicate that the highest mountain coin is bullish for Bitcoin
Traditionally, unified action in the third quarter began.
The rate of funds collected on the exchange every eight hours refers to the cost of a permanently bullish or bearish short position (perps) futures (Not expired).
Positive financing rates show that PERP trading prices are price-rated and require payments from desire to shorts to maintain bullish bets. Therefore, positive interest rates are interpreted as representing bullish sentiment, while negative rates indicate otherwise.
As of writing, perps related to payment-centric token XRP
According to data source Velo, the world’s fourth largest digital asset has an annualized financing rate of nearly 11%, the highest among the top 10 tokens based on market value. TRON’s TRX and Dogecoin have funding rates of 10% and 8.4%, respectively, while market leaders Bitcoin and Ether have slightly positive interest rates.
In other words, the XRP market has the strongest demand for bullish leverage exposure among other major cryptocurrencies including BTC and Ether
. This is consistent with the surge in bullish sentiment towards XRP last week, although there is a solution between Ripple and SEC Stalling, as Santiment noted.
Privacy-centric Monero
Among the tokens outside the top 10 list, the funding rate is over 23%, while Stellar’s XLM token shows a strong bias against bearish bets with a funding rate of 24%.
Seasonal weak quarter
Historically, the third quarter has been a weak period for Bitcoin, with data showing an average growth of 5.57% since 2013. According to Coinglass. This is a far cry from the average growth rate of 85% in the fourth quarter.
BTC’s spot price remained around $107,000 at press time, with no obvious directional bias. Valuation in the last 50 days is between $100,000 and $110,000 sold by long-term holders’ wallets offset Continuous flow into US-listed spot exchange trading funds (ETF).
However, some analysts Expected The big move is about to happen, everyone is watching the Fed Chairman Jerome Powell’s speech Non-agricultural wages were released Tuesday and Friday.
