Here are two Ethereum metrics that are currently showing values that may lead to a rebound for the cryptocurrency’s price.
Ethereum Could Rebound Off The Current Market FUD
According to data from the on-chain analytics firm Santiment, the crowd seems to have started to bet against ETH in the past few days. There are two metrics of relevance here: the Binance Funding Rate and the Social Dominance.
First, the “Binance Funding Rate” keeps track of the periodic fee that Ethereum derivative contract holders on the Binance platform are paying to each other currently.
Related Reading: Bitcoin Long-Term Holders Stay Strong, Show Little Reaction To Crash
When the value of this metric is negative, it means that the short holders are paying the long investors right now. Such a trend suggests that a bearish mentality is the dominant force in the market.
On the other hand, positive values imply a bullish sentiment is shared by the majority as the long investors are paying a premium to the sho
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