The data show that the open interest in the derivative market of Ethereum has reached a new record of all time (ATH) following an increase in the positioning of merchants.
Ethereum Open Interest has crossed $ 30 billion
As explained by the analyst of the cryptocurrency Maartunn in a new post on X, the Ethereum Open Interest recently experienced an increase. The “open interest” here refers to an indicator which maintains a trace of the total amount of derivative posts linked to the ETH which are currently open to all centralized exchanges. It includes long and short bets.
When the value of the indicator records an increase, this means that investors open new positions on the market. Generally, the total lever effect in the sector increases when this trend develops, so that the price can become more volatile afterwards.
On the other hand, the drop in metrics suggest that holders of closing their own will or are liquidated by their platform. Such a trend generally leads to the active comport more stable, due to a leverage authorization.
Now here is the graph shared by Maartunn which shows the trend of open interest of Ethereum in recent years:
Looks like the value of the metric has witnessed a sharp surge in recent weeks | Source: @JA_Maartun on X
As displayed in the above graph, Ethereum open interest has experienced rapid growth alongside the cryptocurrency price rally of $ 4,400. This suggests that the race has aroused speculative interest in the assets. It is not something unusual, but the fact that the point of open interest may have been clear.
Whenever the derivative market is overheated, mass liquidation events can follow because some high -level traders inevitably lose their bets. These events tend to be violent and to shake the price of the assets.
Since the last increase in open interests brought Ethereum positions to a new record beyond $ 30 billion, volatility may also follow the medal.
Certain important liquidations have already occurred in the past 24 hours, as shown by Corglass data.
The breakdown of liquidations across the digital asset sector | Source: CoinGlass
As it is visible in the above thermal card, Ethereum with $ 140 million in liquidations was the best classified part on the cryptocurrency market in terms of energetic closures during the last day.
In some other news, the profits on the ETH network have slowed down after having culminated at $ 771 million a day in July, but it resumes the last rally, because the Glassnode chain analysis company stressed it in a post X.
The trend in the ETH Realized Profit over the past year | Source: Glassnode on X
The users take advantage of the $ 553 million a day, which is lower than the previous summit, but always quite remarkable.
Ethn price
At the time of writing the editorial staff, Ethereum is negotiated about $ 4,460, up more than 24% compared to last week.
The price of the coin appears to have been marching up over the last few days | Source: ETHUSDT on TradingView
Dall-E, Glassnode.com star image, Coininglass.com, tradingView.com graphic
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