Recent data reveals a concerning decline in Ethereum trading volume, leaving many traders grappling with potential market pressure. This drop, while accompanied by relatively stable futures open interest, has raised concerns about the future of leveraged ETH positions and long-term investment strategies. Matrixport’s analysis highlights this unique challenge as spot volume plummets from $122 billion to just $41 billion in a single week. This dramatic decrease signals reduced market activity and potentially increased volatility. While futures open interest remains high, the contrast between these two figures underscores a critical imbalance, with fewer new traders entering the market while existing leveraged positions are still active.