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Ethereum Futures Open Interest Hits Historical High of Approximately $35.5 Billion

Summary: According to Glassnode data, Ethereum futures open interest hit a historical high of approximately $35.5 billion as spot prices surged past $4,700. Leverage levels on various trading platforms have recovered, laying the foundation for larger fluctuations after position concentration. Short pressure surged: On August 12, when the price approached $4,620, approximately $66 million in short ...

According to Glassnode data, Ethereum futures open interest hit a historical high of approximately $35.5 billion as spot prices surged past $4,700. Leverage levels on various trading platforms have recovered, laying the foundation for larger fluctuations after position concentration. Short pressure surged: On August 12, when the price approached $4,620, approximately $66 million in short positions were liquidated, marking the second largest short liquidation event so far this year.

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