Data tracked by Glassnode show that the spread recently collapsed to an annualized level of - 9%, a sign investors are willing to pay more to take leveraged long or bullish bets in the ether perpetual futures market compared to bitcoin (BTC). In other words, risk appetite is rising - investors are willing to pour money into smaller and risky altcoins, expecting to generate a large profit.
"However, since the October rally, funding rates for ETH have been consistently higher than for BTC, inferring an increased appetite by traders to speculate further out on the risk curve," Glassnode added.
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