ETH Experiences Significant Market Activity with Increased Leverage and Liquidations
AI Summary
According to Odaily, Michael Nadeau, founder of DeFi Report, shared insights on ETH market trends on X. He noted a 40% increase in open interest for ETH over the past few days, indicating a surge in leveraged long positions. Additionally, ETH's spot trading volume has jumped from $4-6 billion daily to $15-18 billion, suggesting substantial real capital inflow. The funding rate has risen from 0.005% to 0.03%, and short liquidations have exceeded $85 million in recent days. Overall, these factors point to a rise driven by real capital inflow, increased long positions, and a short squeeze.
