Ether (#ETH🔥🔥🔥🔥🔥🔥 ) is gaining major attention in the crypto world as open interest in #ETH futures just hit a record high of $46.58 billion, according to Cointelegraph. That’s a 64% jump since June 22, showing that more investors are getting involved and putting fresh money into #ETH🔥🔥🔥🔥🔥🔥 contracts.

On Wednesday, Ether’s price jumped 6% to $3,170, doing better than the overall crypto market, which only rose by 1.8%. Analysts are feeling confident and some even believe #ETH🔥🔥🔥🔥🔥🔥 could soon hit $4,000, with a possible long-term high of $30,000 in this bull run.

Over the last week, open interest in Ether futures alone went up 31%, which means more traders are betting on #ETH🔥🔥🔥🔥🔥🔥 using borrowed money (leverage). Just to compare: back in April, when #ETH🔥🔥🔥🔥🔥🔥 was around $1,600, open interest was $17.95 billion. By December 2024, when #ETH🔥🔥🔥🔥🔥🔥 was at $4,000, it had already climbed to $31.5 billion. The current numbers show that traders are very optimistic.

#Ethereum network fees also rose by 109% this past week, reaching $12.4 million. This shows higher demand and a faster rate of #ETH being burned (taken out of circulation), which can help push prices even higher.

Analysts from TradingView and Cointelegraph say that #ETH🔥🔥🔥🔥🔥🔥 has stayed above $3,000 for six straight days, making this level a strong support zone. If it holds, #ETH🔥🔥🔥🔥🔥🔥 could climb much higher — potentially up to $18,000. A well-known trader called DeFi Dad now believes ETH could peak anywhere between $15,000 and $30,000, and sees a minimum target of $15,000–$18,000 from the 2022 lows.

Investor John K. Davies thinks Ethereum could even beat Bitcoin#BTC in the second half of this year, possibly reaching $6,000 before 2026, and maybe over $10,000 by mid-2026. Another analyst, Crypto GEMs, compared today’s market to ETH’s big run in 2016–2017, suggesting a 330% price surge from April’s low of $1,400 — potentially sending #ETH to $6,000.

For now, the next target is $4,000, as #ETH has broken above a key resistance zone ($2,800–$3,000). Also, demand from big investors — especially through spot Ethereum ETFs and treasury companies — continues to rise, which is another strong sign that the market is feeling bullish.