Ethereum (ETH) futures open interest has surged to an all-time high of $35.5 billion USD (approximately 49 trillion KRW), according to a recent announcement by Glassnode on X (formerly Twitter). This milestone indicates a significant increase in the total value of outstanding ETH futures contracts, reflecting heightened market activity and speculation surrounding the cryptocurrency. Open interest represents the total number of outstanding futures contracts that have not been settled or closed. A rising open interest, like the one observed with ETH futures, typically suggests that new money is entering the market and that traders are increasingly confident in the future price direction of Ethereum. This can be interpreted as a bullish signal, indicating strong market conviction and potential for further price appreciation. However, it's crucial to consider other market factors and indicators before drawing definitive conclusions. Increased volatility often accompanies high open interest. ```

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