As reported by BlockBeats on September 21, Ethereum prices surged 11.7% between September 17 and September 19 to a three-week high of $2,572. Ethereum futures open interest also jumped to a 20-month high.
Traders are concerned that increased leverage could amplify price volatility. Lower interest rates are good for ETH’s bullish momentum, but risks remain for the U.S. economy.
The recent ETH price rally mirrors an 8.3% gain in the overall cryptocurrency market, which has benefited from U.S. interest rate cuts and strong labor market data.
