The ETH token rose to $4,500 yesterday as traders showed a greater appetite for risk following a modest 0.1% increase in consumer inflation in the U.S. The total open interest for ETH futures rose to over $60 billion, up from $47 billion a week earlier.

However, the increase is mainly due to the appreciation of the token's price, as open interest in terms of ETH remains 11% below the peak of July 27 at $15.5 million ETH. Derivative metrics show reduced demand for leveraged bullish exposure despite strong gains in the spot market.