$ETH HOT MOMENTS: Ethereum (ETH) Price Surpasses $3,700, Altcoins Also Gain Momentum – Here Are the Details

Ethereum (ETH) surpassed the $3,700 level, gaining 4.35% in the last 24 hours.

According to market data, ETH is currently trading at $3,704. Despite this rise, it is still 24.29% off Ethereum's all-time high of $4,891.70 recorded in November 2021.

According to Coinglass data, investors are increasing their bullish expectations for Ethereum. Ethereum futures open interest has been on an upward trend for more than a month. Total open interest, which surpassed $50 billion on July 17th, reached an all-time high of $52 billion today.

Total open interest currently stands at 14.31 million ETH, representing approximately $52.14 billion and representing a 0.74% increase over the past 24 hours. The rankings by exchange are as follows:

Binance: Leading with $9.33 billion in open interest.

CME (Chicago Mercantile Exchange): Second with $6.81 billion.