Ethereum futures have exploded! Open interest surged to a historical peak of $60.4 billion, a 19%+ increase in 30 days, and a showdown between bulls and bears is imminent.

The Ethereum futures market is experiencing a 'mad rush'!

According to the latest data from BlockBeats, the open interest of Ethereum futures contracts across the network has soared to $60.44 billion, firmly standing at a historical high. Looking back 30 days ago (July 19), this figure was still at $50.68 billion, indicating that in just one month, funds have surged by more than 19.25%—the market's battle between bulls and bears for ETH is intensifying, with each fluctuation affecting hundreds of billions of dollars.

On the other hand, Bitcoin futures' open interest is also impressive, currently at $81.48 billion. The futures markets of these two major cryptocurrencies are sending a clear signal: funds are entering the market at a noticeable speed, whether betting on an increase or a decrease, players are getting ready.

The surge in futures positions often indicates that market volatility may further increase. For ETH, this historic level of open interest raises the question: is it a precursor to a market explosion, or the beginning of a battle between bulls and bears? The answer may lie in each subsequent candlestick.

Keep an eye on this $60.4 billion position, as ETH's major moves may not be far away!