Ethereum open interest nears record high on CME following 21% surge

exchange68September 12, 2024

0 0 1 minute read

Quick Take

While CME retains its position as the leading exchange in terms of Bitcoin futures, the past 24 hours have witnessed a remarkable surge in Ethereum open interest.

Specifically, Ethereum open interest has escalated by 2.5%, reaching 3.59 million ETH – the most substantial level since August. This uptick signifies heightened trader interest and potentially greater liquidity.

ETH Futures Open Interest: (Source: Coinglass)

More significant, however, is the open interest of Ethereum on the CME platform. In the last 24 hours alone, there has been a 21% upswing, equating to approximately 320,000 ETH. This surge brings Ethereum interest on CME tantalizingly close to its all-time high, established in November 2022.

Futures Open Interest ETH: (Source: CME)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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