Ether Futures Surge to Record Highs as Open Interest Tops $14 Billion
- Ether futures open interest on centralized exchanges has hit a record $14 billion.
- Daily open interest in Ether futures has risen 40% since early 2024.
- Optimism for a spot Ether ETF approval has increased, with analysts raising SEC approval odds from 25% to 75%.
Ether’s open interest futures on centralized exchanges (CEX) have surpassed their previous highs, reflecting increased trading volume. Open interest (OI) measures the aggregated number of open positions in a particular contract, making it a key indicator of market sentiment, liquidity, and investor sentiment.
According to insights from CoinGlass, ETH Open Interest futures hit an all-time high of $14 billion on Tuesday. This marked a significant increase in the total value of all Ether’s outstanding contracts.
On a year-to-date, daily open interest in ether futures has risen 40% from its initial $10 million valuation. Equally, Ether held price gains in its previous intraday session, surging by 21% to trade at $ 3,783, per data from Coincodex.
The major driver of this positive trend is the renewed optimism surrounding the approval…
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