Matrixport indicates that the Asian market's influence is driving Ethereum's rise, supported by strong funding rates and a revival in DeFi activity.
Matrixport reports that the recent altcoin market surge, particularly for Ethereum and XRP, has been significantly driven by the Asian market. Ethereum's performance is bolstered by positive catalysts, a double-digit funding rate, and a resurgence in DeFi activity, contributing to an overall positive market sentiment despite remaining in a moderate range. The influence of the Asian market has intensified, leading to notable gains for ETH over the weekend, while XRP also benefits from this bullish trend.