Ethereum futures have hit a new milestone with a historic high of $20.8 billion in open interest! This spectacular rise, reflecting a 12% increase in just a few days, showcases the growing optimism among investors about Ethereum's potential. š
š Key Highlights:
1. Record-Breaking Open Interest: Ethereum's futures market has soared to unprecedented levels, highlighting renewed confidence and a bullish outlook from investors. šš
2. Positive Funding Rates: With funding rates at 0.0374%, the majority of market participants are betting on Ethereum's continued price rise, indicating a strong predominance of long positions. š°š
3. Price Surge: Ethereum's price has surged by 7%, now standing at $3,344. This upward movement is driven by a mix of technical and fundamental factors, alongside a favorable global context for crypto recovery. šš„
4. Increased Leverage: The estimated leverage index has reached a record 0.40, showing that traders are amplifying their positions to maximize potential gains, despite the increased risk of volatility. āļøā”
Stay connected with Binance for real-time updates and expert insights as we track Ethereum's exciting journey to new heights! šš
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