Ethereum open interest reached a new all-time high, surpassing $13 billion, a 40% increase over the past four months. This shows the growing activity in the Ethereum derivatives market.

Current funding rates are moderately positive, indicating a preference for traders with long positions. This hints at an optimistic sentiment regarding price growth in the short term.

In addition, Ethereum's leverage ratio also hit a new high, rising to +0.40. This indicates an increase in the risk that investors are willing to take on in derivatives trading.

Despite the positive trends, it is worth being careful, because high leverage and dominance of long positions can lead to corrections in case of sudden volatility.