Prices have been declining across the crypto market and with it has come to a lot of doubt on the part of investors. This is reflected in the deposit and withdrawal trends recorded across the various crypto exchanges. One of these has been the funding rates which had remained flat for the better part of the first half of 2022. However, there has now been some movement in the funding rates and it is unfortunately not for the better. Funding Rates Turn Negative Two leading crypto exchanges have seen negative crypto funding rates for the past week. Binance and ByBit consistently appear on the top of the list for the exchanges with the most trading volume and have become a natural home for perpetual traders. That is why changes across these platforms can be significant to market movements. Related Reading | Holding Back The Bears: Why Bitcoin Must Break $22,500 Funding rates have been fluctuating at and below neutral for the better part of the month but the latter looks to have finally won out. After bitcoin had dropped below $20,000 last week, expectations had been that more traders would want to get in given the low prices. However, it has gone the other way as average funding rates are now in the negative. Both Binance and ByBit have recorded average funding rates of -0.0015 for last week. A significant drop from the neutral 0.01% average aggregated funding rates. What this shows is that the bearish sentiment among the per...
North Carolina Eyes Crypto for Pension Funds
