Ether (ETH) experienced a 10% correction from July 31 to August 2, testing the $3,000 support for the first time since July 8. This move significantly outperformed the broader cryptocurrency market, which fell 6.8% over the same period.

- Despite this, open interest in Ether futures reached a seven-month high.

- Interest in futures does not always mean a bullish mood.

- The lack of inflows into the recently launched Ether ETFs in the US also played a role.

- Liquidations amounting to $141 million intensified the correction.

📉

- Open interest in Ether futures is up 5% in seven days.

- The 3-month futures premium fell to 8% after the market correction.

- The funding rate for retail traders remained stable at 0.008%.

Current ETH derivatives metrics do not indicate expected near-term price growth.