Bitcoinist
Data shows the Ethereum Open Interest has shot up alongside the asset’s recovery surge, a sign that chaos could be in store.
Ethereum Open Interest Has Gone Up By More Than 8%
As explained by CryptoQuant author Maartunn in a new post on X, the Ethereum Open Interest has heated up during the past day. This indicator keeps track of the total amount of derivatives positions related to ETH that are currently open on all centralized exchanges. It takes into account for both short and long positions.
Below is the chart shared by Maartunn, showcasing the recent trend in the Ethereum Open Interest.
From the graph, it’s apparent that the Ethereum Open Interest has just gone up by around $1.9 billion and reached the $24.5 billion mark. This corresponds to a notable increase of 8.5%.
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