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Ethereum futures open interest sets new record as price nears ATH

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The aggregated open interest of Ethereum futures reached an all-time high today, just four months after the overall crypto market's fallback.

According to data from Bybt, Ethereum's futures open interest hit $11.68 billion for the first time, as of 10:00 UTC time.

This shows a sharp resurgance after a big drop. These levels were last seen in mid-May, when the crypto markets were at their highest. When prices dropped, open interest fell too, reaching as low as $4.43 billion in June, according to The Block's Data Dashboard.

The return in open interest comes as the price of ether nears $4,000, not far off its all-time high of $4,300.

Meanwhile, the open interest of bitcoin futures closed at $18.15 billion on Monday and is two-thirds as high as the recent top seen in mid-April. Similarly, BTC's spot price is trading just south of $52,000 — still short of its all-time high of $63,000.

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Oct 15, 2021, 2:54AM UTC
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