Ethereum Funding Rates Hit The Low Amid The Shift From PoW

The Ethereum upgrade has shifted the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The Ethereum mainnet and the Beacon Chain will finally merge as a single blockchain through the transition. According to the estimations of EtherNodes, the Ethereum transition will occur if there are no underlying technical challenges. Before now, the team of developers confirmed the checklist for the Merge before releasing it. Related Reading: Investor Sentiment Sees Sharp Positive Spike Following Crypto Market Recovery There have been several sentiments and reactions concerning the Merge lately. This significantly impacted ETH and all its derivatives in the crypto market. Some participants are accumulating more expecting a sudden spike in price. But some are even disposing of what they have due to fear of volatility. Sentiments On Merge Affects ETH Funding Rates Currently, expectations and more attention are glued to the Ethereum blockchain. But based on the state of the miners, there could be variation in the transition estimated time. From the look of things, the ETH futures traders seem to be calculating their moves. The data from CryptoQuant revealed that Ethereum funding rates had hit a new all-time low. This recent point marks the lowest for the Ether derivatives. ETH funding rate is a metric that provides forced convergence of prices between the contract and the underlying asset. It indicates the payment that comes from long...