Ethereum futures open interest sets new record as price nears ATH

Ethereum futures open interest sets new record as price nears ATH

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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