【Market leverage soars, Ethereum shorts hit a record high】Golden Finance reports that the open contracts for Ethereum futures have exceeded $20 billion, setting a new record and highlighting the intensification of speculative activities. The rise in short positions indicates that more and more traders are betting on a decline in Ethereum's price. Meanwhile, the estimated leverage ratio (ELR) has reached a peak, reflecting a higher dependence on borrowed funds—this approach amplifies the likelihood of rapid liquidations.