The open position data for ETH contracts increased sharply by 7.73% in the past 24 hours, reaching a total value of over 50 billion USD.
ETH's market position now stands at 50.264 billion USD, with leading exchanges including Binance, CME, and Gate holding the largest market share.
MAIN CONTENT
ETH open interest increased by 7.73% in 24 hours, with a total value of 50.264 billion USD.
The top three exchanges in open interest are Binance, CME, and Gate.
Binance leads with 9.87 billion USD in open interest, followed by CME and Gate.
What is ETH open interest and what does it mean?
ETH open interest represents the total number of open contracts – not yet closed – in the futures or options market of Ethereum. This is an important indicator reflecting the level of participation and liquidity of investors in the cryptocurrency market.
The high increase in open interest indicates significant capital flow and interest from traders, reflecting the heat as well as the potential price volatility of ETH in the futures market.
How has the open interest fluctuation of ETH been in the past 24 hours?
According to data from Coinglass on August 7, the total value of ETH open interest increased by 7.73% compared to 24 hours ago, reaching 50.264 billion USD globally. This is a sign that the ETH contract market is experiencing significant growth in trading participation.
This latest updated information demonstrates significant capital concentration and increased trading activity from both individuals and institutions on exchanges. This growth may also be related to price trends or significant events in the Ethereum market.
Which exchange dominates ETH open interest?
The top three exchanges for ETH open interest value include Binance with 9.87 billion USD, CME 5.92 billion USD, and Gate 4.893 billion USD. Binance currently holds a clear leading position, indicating its attractiveness and large scale in trading ETH contracts on this platform.
Binance’s leadership in open interest once again confirms its top market position with good liquidity and a large user base, while reflecting the trend of centralized trading of ETH contracts on large, transparent, and tightly regulated exchanges.
The increase in ETH open interest indicates a strong influx of capital into the futures market, demonstrating positive interest from the community and institutional investors.
Cryptocurrency market analysis expert, August 2024
Frequently Asked Questions
What does ETH open interest indicate in the market?
Open interest reflects the total number of open contracts and the liquidity level of ETH futures contracts in the market.
Why is the increase in ETH open interest important?
This shows new capital flows and the overheating in the market, which may affect future price volatility.
Which exchange currently has the largest ETH open interest value?
Binance is leading with 9.87 billion USD in ETH open interest, followed by CME and Gate.
Where is the ETH open interest data updated from?
Data compiled and reported by Coinglass, one of the reputable cryptocurrency market analysis platforms.
What events are strongly related to the increase in ETH open interest?
Often related to price volatility, important news, or changes in the Ethereum network.
Source: https://tintucbitcoin.com/ethereum-tang-773-hop-dong-24h/
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