PANews reported on September 21 that according to cointelegraph, Ethereum soared 11.7% between September 17 and September 19 to a three-week high of $2,572. This price trend coincides with the rise in Ethereum futures open interest, reflecting the total number of contracts on derivatives exchanges. Ethereum futures open interest soared to 4.66 million ETH on September 19, the highest level since January 2023, indicating strong demand for leveraged positions. As a result, traders began to worry that increased leverage could amplify potential price fluctuations. The recent rise in ETH prices echoes the overall 8.3% rise in the cryptocurrency market, thanks to U.S. interest rate cuts and strong labor market data. The momentum also pushed the S&P 500 to a record high on September 19. Lower interest rates reduce the cost of companies issuing new bonds, easing concerns about a possible correction in the stock market.