Ethereum’s Open Interest Hits New High of $35.5 Billion: Implications for Future Price Movements

Recent data reveals that Ethereum futures open interest (OI) has soared to an all-time high of approximately $35.5 billion, as reported by Glassnode via X. This surge coincides with a rise in spot Ethereum prices towards $4,590. Analysts attribute this increase in ETH futures activity to growing DeFi applications and increased institutional investment. The record OI indicates substantial rebuilding of leverage across various trading platforms, potentially impacting future ETH price action and broader crypto market trends.