๐ Ethereum Overtakes Bitcoin in Open Interest, Hits Record $58 Billion!
Ethereum (ETH) made history in July by reaching $58 billion in open interest, surpassing Bitcoin (BTC) for the first time. The spike reflects growing confidence from institutions and whales, especially within DeFi and smart contracts.
๐ Derivatives activity on CME also surged, with ETH hitting $7.85 billion, a sign of heavy participation from major financial players.
โ ๏ธ However, the buildup of leverage raisesconcerns of mass liquidations, potentially triggering a sharp market correction.
๐ฌ โOpen interest is at an all-time high. Leverage is stacking. This isnโt a normal rally.โ โ Merlijn The Trader
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๐ Ethereum Overtakes Bitcoin in Open Interest, Hits Record $58 Billion!
Ethereum (ETH) made history in July by reaching $58 billion in open interest, surpassing Bitcoin (BTC) for the first time. The spike reflects growing confidence from institutions and whales, especially within DeFi and smart contracts.
๐ Derivatives activity on CME also surged, with ETH hitting $7.85 billion, a sign of heavy participation from major financial players.
โ ๏ธ However, the buildup of leverage raisesconcerns of mass liquidations, potentially triggering a sharp market correction.
๐ฌ โOpen interest is at an all-time high. Leverage is stacking. This isnโt a normal rally.โ โ Merlijn The Trader
๐ Disclaimer: Not Financial Advice (NFA). Do Your Own Research (DYOR).#Show My Alpha Points #ETH ETF Sees 12 Weeks of Inflows