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Crypto

Ethereum Funding Rate Hits One-Year High Amid Bullish Sentiment

Guavy AI Editorial Team
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ETH BNB
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Ethereum's price has been steadily rising since August 19, reaching as high as $2,500 after a 30% increase. Tom Lee of Bitmine notes that Ethereum's funding rate on Binance is now at its highest level in a year, indicating strong buying interest.

Lee believes that the price could potentially reach levels similar to previous rallies in 2021 and 2025, possibly pushing above $2,500 and even reaching as high as $3,423 by 2026. However, there are risks if the price falls below key support levels around $2,000.

Ethereum ETFs have seen significant inflows, supporting positive market sentiment and contributing to the overall bullish outlook for Ethereum.

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