The Ethereum futures market is breaking records with an incredible open interest of $20.8 billion! This spectacular rise, reflecting a 12% increase in just a few days, underscores the growing optimism among investors regarding the second-largest crypto in the market. š
š Key Highlights:
1. Record Open Interest: Ethereum futures have hit an all-time high, showcasing renewed confidence and a bullish outlook from investors. šš
2. Positive Funding Rates: Funding rates at 0.0374% indicate a predominance of long positions, with a majority betting on continued price increases. š°š
3. Price Surge: Ethereum's price has surged by 7%, now standing at $3,344. This movement is attributed to a blend of technical and fundamental factors, bolstered by a globally favorable context for crypto recovery. šš„
4. Increased Leverage: The estimated leverage index has reached a record 0.40, indicating that traders are amplifying their positions to maximize potential gains, despite the risk of increased volatility. āļøā”
Stay connected with Binance for real-time updates and expert insights as we track Ethereum's thrilling journey to new heights! šš
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