According to ChainCatcher, according to CoinDesk, CryptoQuant data shows that Ethereum's leverage ratio has risen to 0.57, a sharp increase from 0.37 at the beginning of the last quarter of 2024. At the same time, Bitcoin's leverage ratio is 0.269, the highest level since early 2023, but still far below the historical high of 0.36 set in October 2022.