Recent data reveals significant activity in the USD-M perpetual futures market, with Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Binance Coin (BNB) trading pairs dominating trading volume in the last 24 hours. The BTC/USDT trading pair has showcased a long/short ratio of 2.42, indicating a strong bullish sentiment among traders.
Its funding rate stands at 0.0044%, reflecting a slightly positive outlook on the future price movements of Bitcoin. Similarly, Ethereum has also attracted considerable interest, exhibiting a remarkable long/short ratio of 4.54 and a funding rate of 0.0078%. This suggests that traders are confident about Ethereum’s price trajectory.
Ripple’s trading pair, XRP/USDT, has recorded a long/short ratio of 2.5. However, its funding rate of -0.0012% denotes some bearish sentiment despite a healthy trading volume. Solana continues to thrive in the market, with a long/short ratio of 4.58 and a funding rate of 0.0100%. This signifies that traders maintain a bullish outlook on SOL.
Furthermore, Binance Coin (BNB) has a long/short ratio of 1.52 and a slightly negative funding rate of -0.0055%, indicating a more cautious approach from traders. These metrics provide valuable insight into trader sentiment and market trends for these prominent cryptocurrencies, highlighting the importance of monitoring perpetual futures trading as a barometer for future price movements..