Binance Ethereum Open Interest Surges, Optimistic Outlook May Drive ETH Soaring

According to HashKey, CryptoQuant analysis shows that Binance Ethereum open interest has reached $10 billion, growing by 46% in the last 30 days. The price of ETH has currently risen to $4,300, close to the historical high of $4,867 set in 2021. Optimizations in network performance have reduced L2 transaction costs by 90%, with 30% of the supply staked and locked. Institutional funds continue to flow in, with spot ETF trading volume exceeding $117 billion, and whales are continuously buying. If the market trend remains positive, it may trigger short covering, significantly pushing up ETH prices.