- Ethereum CME Futures open interest rises to a record $7.85B, reflecting heightened institutional interest and speculative positioning.
- ETH perpetual volume dominance overtakes Bitcoin, indicating a shift in trader attention and market structure dynamics since the 2022 cycle low.
- Combined futures open interest in major altcoins has surged from $26B to $44B, showing increased leverage and elevated volatility across markets.
Ethereum futures on the Chicago Mercantile Exchange (CME) have reached a new record open interest of $7.85 billion. The data was shared by Maartunn, an analyst with CryptoQuant. Open interest reflects the total number of outstanding contracts that have not yet been settled. This surge marks a significant rise in Ethereum’s derivatives market activity.
Ethereum’s open interest dominance has increased to its highest level since April 2023. This marks a shift in market focus, with investors paying closer attention to ETH futures. According to Glassnode, Ethereum’s perpetual volume dominance has also exceeded Bitcoin’s. This shift signals the largest volume imbalance in Ethereum’s favor since the 2022 market cycle low.
Altcoin Leverage Rises Across Markets
Since the start of July, combined open interest across Ethereum, Solana, XRP, and Dogecoin has surged. The figure grew from $26 billion to $44 billion. This sharp increase highlights a notable rise in leveraged speculative trading. Higher leverage often results in greater market volatility, as price movements amplify gains and losses.
Ethereum has recently traded at $3,743. It broke through several key on-chain resistance points. Technical indicators suggest the current trend may continue. Glassnode data points to $4,500 as a critical level based on Ethereum’s +1 standard deviation range of the Active Realized Price. This level previously served as a resistance point in March 2024 and during the 2020–2021 bull cycle.
If Ethereum surpasses the $4,500 mark, the next technical target becomes its all-time high of $4,891. That high was recorded in November 2021. Market analysts view this level as important for determining Ethereum’s short-term trajectory. A break above may reinforce bullish sentiment in the altcoin segment.
