#ETHOnTheRise

Ethereum open interest has been achieving highs this past week. It peaked at $24.34 Billion on November 30, at the time of writing, which was also a new ATH for the cryptocurrency.This signaled growing demand for the cryptocurrency in the derivatives segment. This new open interest peak and surging demand from Ethereum ETFs reflect a fresh wave of demand for the cryptocurrency.

ETH has been stuck in a bullish flag pattern for months and the eventual breakout is finally taking place. It just concluded the week with a bullish breakout, pushing above its descending resistance. However, traders should move cautiously as high open interest makes ETH susceptible to potential leveraged long liquidations.