Ethereum Futures Volume +82% to $118B; Global $2.12T
In July, Ethereum futures volumes on CME surged 82% month-on-month to $118 billion, while open interest climbed from $2.97 billion in June to $5.21 billion, data from CoinGlass shows. Across all exchanges, global Ethereum futures turnover hit $2.12 trillion, up 38% year-on-year and 13% above the May 2021 record, with total open interest approaching a new high of $36.3 billion by August 9. At the same time, ETH prices broke above $4,300, peaking at $4,350 in early August—14% below its November 2021 all-time high. Funding rates remain moderate, easing leverage risks, and Google search interest in ETH has reached levels unseen since June 2022. CryptoAppsy reports ETH trading around $4,303, up 0.78% over 24 hours, 18.6% over one week and 45.5% over the past month, underscoring strong market momentum.
Bullish
The sharp rise in Ethereum futures trading volume and open interest reflects growing institutional participation and liquidity, while ETH’s price rebound to over $4,300 and moderate funding rates indicate healthy market conditions with limited leverage risk. In the short term, elevated volumes and strong momentum may attract additional speculative buying, driving further price gains. Over the longer term, record global turnover and sustained open interest growth signal robust market fundamentals, supporting continued bullish momentum for Ethereum.