$ETH
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The total open interest in Ethereum futures contracts across the network has exceeded $52 billion, setting a new historical high, with a 24-hour increase of 0.74%. Binance and CME are ranked first and second.
The booming ETH derivatives market indicates that large institutions are doubling down, betting on ETH's price movement, but it also increases the risk of liquidation.
Combining this week's on-chain accumulation of 391,000 ETH, funds are flowing into the ETH ecosystem, which may push the price to $4,000 in the future. Bears should be cautious, and it is recommended for bulls to leverage their positions.