Ethher (eth), the native cryptocurrency of Ethereum, scores historical maximums (ATH) of futures trading volume, reflecting the fever in the market for the asset.
In July, the monthly volume of ETH futures operations in the Chicago Mercantile Stock Exchange (CME) It exceeded 118,000 million dollars, which represents an intermencing increase of 82%.
The open interest (OI) in the CME also marked a record after rising 75% to 5.210 million dollars.
This OI shows how many futures contracts are active in the market and reflects the activity and liquidity. When it grows, it means that more new positions are opened that close, which indicates greater movement and enthusiasm among investors.
But that’s not all, because this ETH fever is not only limited to CME. The thing is The total volume of ETH futures in all exchanges also reached a new 2 billion AT (Trillions) of dollars in July. It is an intermensual increase of 38%, and 13% greater than its previous record of 1.8 billion dollars, reached in May 2021.
The total OI – which represents the sum of all open positions in ETH futures – remains close to historical maximums, with about 36.3 billion dollars to Saturday, August 9.
In the following graph, the volume of ETH futures is observed in all exchanges:
The strong volume of negotiation and institutional adoption They drive Ethereum’s native currency to exceed 4,400 dollarsits highest level since December 2021.
Another issue to highlight is that, according to Cryptoquant data, an analysis firm ON-CHAINthe OI of short positions (short) from Ether in Binance Ha Increased 500% Since November 2024, with an increase of 40% only last week.
Short positions are bets made by traders when they expect the price of an asset to fall, for this, they sell contracts that must then repurchase at a lower price to obtain profits, as Cryptonotics explained.
In this regard, the firm’s analysts propose: “Is a contraction of short positions coming?” This implies that, if the ETH price begins to rise quickly, many traders with short positions They could be forced to close their contracts to limit losses, which would generate an upward impulse in the price of the asset.
