Ethereum Open Interest for Binance Don Hit $8.7B—3.5x 2021 Level
Ethereum open interest for Binance don climb reach record $8.7 billion, wey near about 3.5 times the $2.5 billion peak wey dem see during 2021 bull run. Dis jump for Ethereum open interest na show say speculative and leveraged positions dey grow. Meanwhile, funding rates still neutral, wey mean say traders balance between long and short bets and e get space to add more positions without ghen mass liquidation. Even with market wahala, Ethereum don get 15 weeks straight inflows, attract $133 million while plenty digital asset products see outflows of $223 million. Bitcoin, e lose $404 million due to risk-off sentiment after Fed hawkish signals. Analysts dey see the rising Ethereum open interest and steady inflows as good signal wey fit support sustained rally. The quiet leveraged accumulation plus neutral funding rates fit set stage for more volatility and sharp price move soon.
Bullish
Ethereum open interest wey reach record dey show say leveraged speculation don increase well well. Neutral funding rates no get any extreme bias, e make positions fit grow without immediate risk of liquidation. Together with 15 weeks steady inflows wey total $133 million, this one resemble how past bull runs take happen but with stronger demand wey dey behind am. Historically, big jumps for open interest dey happen before sharp rallies, plus Ethereum resilience during market outflows show say investors get strong confidence. Short term, build up of positions fit bring high volatility and one breakout move. Long term, steady inflows plus healthy funding mean say bullish trend go continue.