Broader Market Celebrates Bitcoin Breakout, But What About Perp Traders?
Bitcoin perpetual traders seem to be the only ones unmoved by the digital asset’s recent breakout. BTC which has had a tremendous rally during the first half of the week had been able to break out of the slump of the low $40,000s and moved on an upward trajectory above $47,500. However, perp traders have not reacted much to it given the state of the funding rates. Funding Rates Remain Flat The bitcoin perpetual traders are not reacting to the recent upside as expected. This is evidenced in the fact that the perp basis is still sitting at or even below neutral funding rates, marking the....
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Bitcoin funding rates have been less than encouraging even when the digital asset was on an uptrend. This indicated that perp traders were not actually feeling the market or the recent recovery enough to do anything. Leading to less money flowing into the market. This was the case last week and it seems this has […]
The leading crypto derivatives exchange and trading platform, OKEx has further expanded its DeFi offering by adding few more tokens to its list of supported cryptocurrencies. The latest inclusion to the list is PERP – a native token of the Perpetual Protocol. Perpetual Protocol is a DeFi platform that allows users to create perpetual contracts […]