Ethereum Funding Rate Hits One-Year High, Tom Lee Sees Bullish Setup

Ethereum (ETH) price prediction has been gaining attention as Tom Lee, a well-known cryptocurrency analyst, flags a bullish setup in the market. According to Lee, the funding rate on Ethereum has hit a one-year high, which could be a sign of increased buying interest.

The funding rate is the difference between the borrow and lend rates on margin trading platforms. A high funding rate indicates that traders are willing to pay more to take long positions in Ethereum, suggesting bullish sentiment.

Lee's comments come as Ethereum prices have been showing signs of recovery from a recent slump. The coin has gained over 10% in the past week, with its price currently trading at around $1,300.