TechFlow reported on September 12 that CryptoQuant analyst Burak Kesmeci noted Ethereum's current funding rate behavior could signal an imminent significant price surge. Kesmeci analyzed Ethereum's funding rate data over the past year and identified two similar "calm before the storm" periods. In September 2023, the funding rate hovered between 0.002 and 0.005, and after breaking above 0.015, Ethereum's price surged from around $1,500 to over $4,000.
In September 2024, Ethereum’s funding rate has remained at a similar level for nearly a month. Kesmeci stated, “While we can't be certain history will repeat itself, there is indeed a certain pattern in the market.” He pointed out that crypto markets typically become active in the fourth quarter following the summer months, which are usually slow due to holidays. Kesmeci advised investors to closely watch whether the funding rate breaks through the critical threshold of 0.015, which he considers a core indicator for tracking healthy growth during a bull cycle.
