Ethereum Open Interest Reaches $14 bn High
Ether futures open interest has hit a record high of $14 billion, signifying increased market activity.
Interestingly, this rise in Ether open interest coincides with Ethereum’s price surge to $3,650, an increase of 18% in the last 24 hours.
The increased chances of a possible Ethereum ETF approval have fueled this bullish outlook on Ethereum.
And as we are all aware that…Bloomberg ETF analysts have also raised the chances of the agency’s approval from 25% to 75% ..this speculation has led to the increase in ETH’s price.
The first round of spot Ether ETF deadlines is approaching, with VanEck’s on May 23 and Ark Invest’s on May 24.
(With inputs from Shikha Singh)
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