#ETH5kNext? 🔥Ethereum breaks historical maximum in futures trading

The monthly trading volume highlights the positive market sentiment regarding ETH. 2 trillion dollars were 'traded' last month in ether (ETH) futures.

This figure represents a month-over-month increase of nearly 40%.

Ether (ETH), the native cryptocurrency of Ethereum, records historical maximums (ATH) in futures trading volume, reflecting the frenzy in the market for the asset.

In July, the monthly trading volume of ETH futures on the Chicago Mercantile Exchange (CME) exceeded 118 billion dollars, marking a month-over-month increase of 82%. The open interest (OI) on the CME also set a record, rising 75% to 5.21 billion dollars.

This OI shows how many futures contracts are active in the market and reflects activity and liquidity. When it grows, it means that more new positions are being opened than closed, indicating greater movement and enthusiasm among investors. But that’s not all, because this frenzy for ETH is not limited to the CME. The total volume of ETH futures across all exchanges also reached a new ATH of 2 trillion dollars in July. This represents a month-over-month increase of 38%, and is 13% higher than its previous record of 1.8 trillion dollars, reached in May 2021.

The total OI —which represents the sum of all open positions in ETH futures— remains near historical highs, at about 36.3 billion dollars as of Saturday, August 9. What’s next for ETH?