The value of Ethereum futures continues to rise sharply, exceeding 60 billion USD, indicating a strong increase in market interest.
The latest data from Coinglass shows that the open position of Ethereum futures on major exchanges has maintained an upward trend for over a month, reflecting strong bullish sentiment among cryptocurrency investors towards Ethereum.
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The open position value of Ethereum futures across the network reached a record 60.48 billion USD.
CME and Binance lead in Ethereum futures volume with 7.38 billion USD and 10.98 billion USD, respectively.
The continuous growth of open positions reflects strong confidence and a positive trend in the cryptocurrency market.
What is the open position of Ethereum futures and what does it reflect in the market?
The open position of Ethereum futures is the total number of contracts that have not been closed or liquidated, directly reflecting investor activity and confidence.
The increase in open position value reaching a new high of 60.48 billion USD indicates that demand and expectations for Ethereum's price increase are very high. This is an important indicator that helps experts assess the vibrancy and trends of the cryptocurrency market in general and Ethereum in particular.
Financial analyst Mark Choi stated: 'The open position value of Ethereum futures reaching a record high proves that investors are betting big on Ethereum's sustainable growth in the long term.' (Mark Choi - Blockchain Analyst, 2024).
Why does the Ethereum futures market on major platforms attract many investors?
CME and Binance are the two exchanges with the largest volume of Ethereum futures, with positions of 1.88 million ETH (7.38 billion USD) and 2.79 million ETH (10.98 billion USD), respectively.
These exchanges offer superior liquidity, transparency, and professional risk management tools, helping investors trade futures with peace of mind. In addition, the diversity of products and easy access also promotes strong trading activity.
'The explosive growth of the ETH futures market clearly reflects the maturity of the Ethereum ecosystem and the participation of professional investors.'
Jane Li - CEO of the Financial Exchange, 6/2024
How does the increasing trend of open positions in Ethereum futures affect the cryptocurrency market?
This trend not only reflects expectations for Ethereum's price to continue rising but also stimulates related investment activities such as DeFi, NFTs, and Layer 2.
As the value of futures contracts rises rapidly, liquidity increases, facilitating derivative trading, fundraising, and the expansion of blockchain applications. At the same time, it also increases competition among investors, promoting the sustainable development of the cryptocurrency market.
Comparison table of open positions of Ethereum futures on major exchanges
Open Position Exchange (ETH) Equivalent Value (billion USD) Binance 2.79 million ETH 10.98 CME 1.88 million ETH 7.38
Frequently asked questions
What is the open position of Ethereum futures?
The open position is the total number of futures contracts that have not been closed, reflecting the participation and confidence of investors in the Ethereum market.
What is the recent open position value of Ethereum futures?
The open position value has surpassed 60.48 billion USD, reaching a record high in over a month.
Why are CME and Binance the most chosen for trading Ethereum futures?
This exchange provides high liquidity, a diverse range of products, and a safe trading environment, suitable for professional investors.
What does increasing open positions of Ethereum futures mean for the cryptocurrency market?
It reflects bullish expectations and boosts investment activity, contributing to the sustainable development of the Ethereum ecosystem.
How to track open positions of cryptocurrency futures?
You can track it through specialized data pages like Coinglass or reports from major exchanges.
Source: https://tintucbitcoin.com/ethereum-futures-lap-dinh-open-interest-60-ty-usd/
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