Ethereum Futures Hit Record High of $20 Billion, Driven by Leverage Spike

Ethereum futures open interest has surged to an all-time high of $20 billion, signaling a significant increase in leveraged trading activity despite ETH’s spot price hovering around the $2,800 mark. This rise coincides with a broader uptick in Ethereum market activity as traders increasingly utilize stablecoins to gain exposure via futures contracts. This increased risk appetite and speculative positioning are seen even amidst modest price consolidation.