Current mainstream CEX, DEX funding rate data shows market remains in a strong bearish sentiment

BlockBeats News, January 30th, according to Coinglass data, the cryptocurrency market synchronized with the world's mainstream assets entered a downturn. In the past 24 hours, the total network has liquidated $1.687 billion, but currently, mainstream CEX and DEX funding rates indicate that the market is still predominantly bearish. Among them, some currencies such as BTC, ETH, SUI, BCH show a slightly weaker bearish sentiment (positive funding rate), while other altcoins generally exhibit a stronger bearish sentiment. Specific funding rates are as shown in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee, which is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.

When the Funding Rate is 0.01%, it represents the baseline rate. When the Funding Rate is greater than 0.01%, it indicates a generally bullish market. When the Funding Rate is less than 0.005%, it represents a generally bearish market.