{"id":600350,"date":"2024-03-29T14:00:51","date_gmt":"2024-03-29T14:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=600350"},"modified":"2024-03-29T13:24:04","modified_gmt":"2024-03-29T13:24:04","slug":"ethereum-open-interest-ath","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-open-interest-ath\/","title":{"rendered":"Brace For Market Impact: Ethereum Open Interest Has Reached A New All-Time High"},"content":{"rendered":"

Ethereum has, for the most part, established a foothold above the $3,500 price level throughout the week as investors <\/span>continue to anticipate<\/span><\/a> a <\/span>return to the $4,000 mark<\/span><\/a>. Interestingly, <\/span>the optimism<\/span><\/a> has seen the open interest of Ethereum <\/span>surging to new highs<\/span><\/a>. The surge in open interest, although a bullish sentiment indicator, can also serve as a bearish signal of an impending change in market trend.\u00a0<\/span><\/p>\n

Ultimately, this metric added to the current dynamics of the Ethereum ecosystem, including regulatory uncertainty and scalability concerns hinting at a complicated price trajectory for the price of Ethereum.<\/span><\/p>\n

Ethereum Open Interest Reaches New High<\/h2>\n

Open interest<\/span><\/a> is an efficient method for tracking the total number of open positions in a particular contract. Recent market dynamics and institutional investor interest have seen the total open interest in Ethereum futures surging above records set in the 2021 bull market phase.<\/span><\/p>\n

Related Reading: The Bulls Are Back: Spot Bitcoin Inflows Surge With New Records<\/a><\/div>\n

According to data from <\/span>Coinglass<\/span><\/a>, the open interest on Ethereum futures, which has been on a surge since February 5, recently set a new high of $14.11 billion on March 15. This wasn’t particularly surprising, as a strong buying momentum from the bulls in the prior days saw the price of Ethereum surging past the $4,000 mark for the first time in two years.\u00a0<\/span><\/p>\n

However, Ethereum has since reversed from the $4,000 price level and is currently trading below $3,600. On the other hand, the total open interest on Ethereum contracts has maintained around its all-time high level, which allowed it to cross over $14.10 billion again on March 28. The open interest weighted average also went up to 0.0462%, indicating an increase in the demand for leveraged ETH long positions.<\/span><\/p>\n

The majority ($4.55 billion) in the Ethereum futures market were registered on cryptocurrency exchange Binance. Bybit and OKX came in second and third, with $2.39 billion and $1.94 billion respectively. Interestingly, CME’s Ether futures also surged to $1.3 billion. At the time of writing, the CME’s Ether futures now sit at $1.31 billion, reiterating the committed bullishness among institutional investors.<\/span><\/p>\n

What\u2019s Next For ETH?<\/h2>\n

Ethereum has been trading flat since the beginning of the week and is currently on a 0.78% gain in the past seven days. All eyes are <\/span>now on reports of the SEC<\/span><\/a> looking into <\/span>Ethereum’s security statu<\/span><\/a>s, the industry awaits an official ruling similar to the one that was handed down in the XRP case that will finally provide clarity to the regulatory landscape.<\/span><\/p>\n

Related Reading: Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally<\/a><\/div>\n

At the same time, investors continue to <\/span>await the SEC’s decision<\/span><\/a> regarding the applications of Spot Ethereum <\/span>exchange-traded fund (ETF)<\/span><\/a> in the US. According to a Bloomberg senior analyst, the <\/span>likelihood of approval is only 25%.<\/span><\/a><\/p>\n

\"Ethereum<\/p>\n

ETH price drops to $3,500 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Money, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Ethereum has, for the most part, established a foothold above the $3,500 price level throughout the week as investors continue to anticipate a return to the $4,000 mark. Interestingly, the optimism has seen the open interest of Ethereum surging to new highs. The surge in open interest, although a bullish sentiment indicator, can also serve as a bearish signal of an impending change in market trend.\u00a0 Ultimately, this metric added to the current dynamics of the Ethereum ecosystem, including regulatory uncertainty and scalability concerns hinting at a complicated price trajectory for the price of Ethereum. Ethereum Open Interest Reaches New High Open interest is an efficient method for tracking the total number of open positions in a particular contract. Recent market dynamics and institutional investor interest have seen the total open interest in Ethereum futures surging above records set in the 2021 bull market phase. Related Reading: The Bulls Are Back: Spot Bitcoin Inflows Surge With New Records According to data from Coinglass, the open interest on Ethereum futures, which has been on a surge since February 5, recently set a new high of $14.11 billion on March 15. This wasn’t particularly surprising, as a strong buying momentum from the bulls in the prior days saw the price of Ethereum surging past the $4,000 mark for the first time in two years.\u00a0 However, Ethereum has since reversed from the $4,000 price level and is currently trading below $3,600. On the other hand, the total open interest on Ethereum contracts has maintained around its all-time high level, which allowed it to cross over $14.10 billion again on March 28. The open interest weighted average also went up to 0.0462%, indicating an increase in the demand for leveraged ETH long positions. The majority ($4.55 billion) in the Ethereum futures market were registered on cryptocurrency exchange Binance. Bybit and OKX came in second and third, with $2.39 billion and $1.94 billion respectively. Interestingly, CME’s Ether futures also surged to $1.3 billion. At the time of writing, the CME’s Ether futures now sit at $1.31 billion, reiterating the committed bullishness among institutional investors. What\u2019s Next For ETH? Ethereum has been trading flat since the beginning of the week and is currently on a 0.78% gain in the past seven days. All eyes are now on reports of the SEC looking into Ethereum’s security status, the industry awaits an official ruling similar to the one that was handed down in the XRP case that will finally provide clarity to the regulatory landscape. Related Reading: Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally At the same time, investors continue to await the SEC’s decision regarding the applications of Spot Ethereum exchange-traded fund (ETF) in the US. According to a Bloomberg senior analyst, the likelihood of approval is only 25%. ETH price drops to $3,500 | Source: SHIBUSD on Tradingview.com Featured image from Money, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":600364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,7931,86497,6931,8686,78803,54146],"class_list":["post-600350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-open-interest","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-open-interest"],"acf":[],"yoast_head":"\nBrace For Market Impact: Ethereum Open Interest Has Reached A New All-Time High<\/title>\n<meta name=\"description\" content=\"Ethereum has, established a foothold above the $3,500 price level as investors 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Brace For Market Impact: Ethereum Open Interest Has Reached A New All-Time High","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-open-interest-ath\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-open-interest-ath\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_d0a986.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_d0a986.jpeg?fit=275%2C183"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth news","eth price","ethereum","ethereum news","ethereum open interest","ethereum price","ethusd","ethusdt","open interest"],"dateCreated":"2024-03-29T14:00:51Z","datePublished":"2024-03-29T14:00:51Z","dateModified":"2024-03-29T14:00:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Brace For Market Impact: Ethereum Open Interest Has Reached A New All-Time High\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-open-interest-ath\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-open-interest-ath\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum_d0a986.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum_d0a986.jpeg?fit=275%2C183\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum news\",\"ethereum open interest\",\"ethereum price\",\"ethusd\",\"ethusdt\",\"open interest\"],\"dateCreated\":\"2024-03-29T14:00:51Z\",\"datePublished\":\"2024-03-29T14:00:51Z\",\"dateModified\":\"2024-03-29T14:00:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_d0a986.jpeg?fit=275%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/600350"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=600350"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/600350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/600364"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=600350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=600350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=600350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}