Ethereum Futures Open Interest Hits New Record High Amid Market Volatility

Market volatility is in focus as Ethereum futures open interest has reached a record high of approximately $35.5 billion, according to data from Foresight News and Glassnode. This surge coincides with significant changes to leverage levels across trading platforms, potentially amplifying market fluctuations. A notable example was seen on August 12th, when there was a substantial liquidation of short ETH positions worth about $66 million – the second largest event of the year.