ETH tăng giá nhờ Open Interest cao kỷ lục và dòng tiền từ các công ty kho bạc

Ethereum (ETH) has just experienced a strong breakout, surpassing $3,300 after several months of sluggish trading compared to Bitcoin (BTC).

The recovery of ETH to a three-month peak, along with record-high open contract levels, creates expectations for a new upward trend and an explosion in the Altcoin market in general.

MAIN CONTENT

  • ETH price has risen to a three-month high, reaching $3,359.

  • Open interest on ETH derivatives exchanges has peaked at three years, over $22 billion.

  • Treasury companies and whales are starting to accumulate ETH, boosting long-term demand.

What price movements is Ethereum currently experiencing?

ETH has just broken the $3,300 threshold and reached $3,359 – the highest in three months, marking a recovery after a deep price drop in March and April 2025. According to Coinalyze's report, ETH has also increased in value compared to BTC to 0.029 BTC while Bitcoin is maintaining a price of around $118,000. This is a sign of the beginning of a strong growth cycle, based on previous price volatility experiences and market behavior.

We are witnessing a significant turning point in ETH's movement, opening up opportunities for a new bull run as seen in history.
– Joseph Lubin, Co-founder of Ethereum, 2025

This indicates that ETH has the potential to continue rising higher, stimulating capital inflows into both the Ethereum ecosystem and the broader altcoin market.

What is the reason for ETH's open interest reaching a three-year peak?

Open interest, the total value of open derivative contracts, has surpassed $22 billion – the highest in three years, mainly due to the increase of Long positions accounting for about 65%. This reflects the excitement and expectations of investors regarding ETH's price increase after many months of stagnation with open interest below $10 billion. According to data from Coinalyze, the current price of ETH has far exceeded the largest liquidation threshold (approximately $1,600), making DeFi protocols safer from liquidation risks.

The surge in open interest numbers indicates that the ETH market has become lively, although investors remain cautious about risk fluctuations.
– Maria Shen, Research Director of Coinalyze, 2025

The surge in open interest often leads to strong liquidations, especially with Long positions. In the last 24 hours, ETH led in liquidations with over $196 million, of which Binance accounted for over $149 million. In comparison, Bitcoin had only about $45 million in liquidations during the same period.

What signs are there for real demand for ETH? Can it be sustained?

Although ETH is not considered a truly scarce asset, whales, institutions, and many treasury companies are actively accumulating it for the long term. The staking and liquid staking of ETH also contribute to the efficient utilization of the asset. Notably, SharpLink Gaming along with other smaller treasury companies are continuously buying ETH, with their stocks also growing, for example, SBET reaching $38.37 in mid-July 2025.

BitDigital (BTBT) – a company that once focused on BTC has now shifted to treasury ETH, recording a stock price increase to $3.93, a record high for the year. This trend shows that ETH is becoming increasingly attractive to large investors while still maintaining accessibility for retail investors. ETH is gradually becoming an appealing passive income channel for whales and institutions.

How do Long and Short liquidations affect the ETH market?

After the price increase exceeding $3,000, most Short positions on ETH have been wiped out, creating momentum for a Short squeeze at the end of June 2025. Currently, the ETH market has almost no large Short positions left to liquidate, making the upward trend likely to temporarily reverse or adjust slightly. According to Coinglass's report, ETH has seen over $196 million liquidated in the past 24 hours, mainly concentrated on Binance, while BTC only had $45 million. Thus, traders need to closely monitor market sentiment during this period to manage risk appropriately.

Comparing ETH and BTC liquidation levels in the recent period

Cryptocurrency Liquidations in 24h (USD) Major liquidations Ethereum (ETH) $196,740,000 Binance ($149 million) Bitcoin (BTC) $45,000,000 Binance and other exchanges

What role do treasury companies play in the recovery of ETH?

The model from Bitcoin treasury has been applied to ETH as many organizations establish primary asset funds using ETH. SharpLink Gaming leads the demand for ETH purchases with an ambitious accumulation schedule. Businesses like BitDigital shifting from BTC to ETH treasury have seen their stock values soar, showing strong confidence in Ethereum's long-term potential.

The accumulation trend focused on ETH helps reduce selling pressure in the market while opening up opportunities to leverage value through Staking, increasing stability and liquidity for the Ethereum ecosystem.

Frequently Asked Questions

How much has ETH increased in the recent breakout? ETH has just reached $3,359, the highest in three months, demonstrating resilience after a prolonged weakening phase. Why is open interest on ETH important? Open interest reflects the level of activity in the derivatives market; record highs indicate strong investor expectations for a new price trend of ETH. How do Long and Short liquidations affect the ETH market? Strong liquidation of Long positions can cause short-term drops, while Short positions have been wiped out, creating momentum for ETH trading. Who is currently accumulating the most ETH? Whales, institutions, and treasury companies like SharpLink gaming and BitDigital are the main buyers accumulating ETH for the long term. How can investors leverage the value of ETH besides buying and selling? Staking and liquid staking are options that help investors utilize their holding ETH to earn passive income.

Source: https://tintucbitcoin.com/eth-tang-gia-nho-open-interest-ky-luc/

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