Altcoin Market Booms: Ethereum and Others Surge Amidst Record Funding Rates

Altcoin funding rates have reached a 9-month high, driven by significant leverage, raising concerns about potential long liquidations. Despite impressive gains by altcoins like Hedera, XRP, and Cardano, the high funding rates of 4%-6% per month could erode margins if prices stagnate or decline. This situation is exacerbated by tight liquidity, as most market focus remains on Bitcoin, potentially leading to a long-liquidation cascade if short-sellers dominate. Investors are advised to remain cautious amid ongoing volatility and potential market corrections.