Ethereum Open Interest Barrels Past $5.2 Billion, Is It Time To Buy?

2023-9-27 02:00

The Ethereum open interest has been on an upward trajectory that has culminated in it crossing the $5.2 billion mark. This surge is important to Ethereum’s native token ETH in a number of ways as it could point to how investors are viewing the cryptocurrency at this point.

Ethereum Open Interest Sees Rapid Rise

Data from Coinglass shows that the Ethereum open interest has risen rapidly in recent times. Over the last week, the open interest has grown, eventually crossing $5.2 billion at a time when the crypto market continues to struggle to loosen the grip of bears.

One thing about open interest is that it can point to how investors are viewing the cryptocurrency and whether they are bearish or bullish. When open interest rises, it points to investors becoming more bullish. On the other hand, a drop in open interest suggests that investors are more bearish and expect prices to drop.

This time around, with the open interest being on the rise, it suggests that crypto investors are turning bullish once more. This reflects the Crypto Fear & Greed Index showing that investor sentiment has been improving during the same time period.

The chart above shows that the ETH price has often rallied when open interest has surged, which could happen in this case. If this holds true, then the ETH price could be looking at a rise toward the $1,700 level once more.

ETH Could Rally With Crypto Market

The turn to bullishness marked by the increase in Ethereum open interest is not limited to the cryptocurrency alone. Looking at the long/short ratio on Coinglass shows that long volumes have begun to recover while short volume has plummeted.

Ethereum long volumes are currently sitting at $574 million compared to $548 million for short. This comes out to 51.28% for longs with 48.72% for shorts. And while these differences are not especially significant, it does show that crypto investors are betting more on a recovery for the cryptocurrency.

Liquidations have also shown that short traders are losing more in the market. Ethereum currently has a 24-hour liquidation volume of $6.63 million. $1.57 million of this is long positions while $5.06 million is accounted for by short traders.

The ETH price is sitting at $1,588 at the time of writing. It’s seeing small gains of 0.84% in the last day but nursing 3.59% losses on the weekly chart.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3017.33 (+0.31%)
Объем 24H $15.552b
Изменеия 24h: 3.82 %, 7d: 0.45 %
Cегодня L: $3003.4 - H: $3038.74
Капитализация $362.436b Rank 2
Цена в час новости $ 1591.54 (89.59%)

ethereum point interest billion open ways eth

Источник: newsbtc.com

ethereum point → Результатов: 126


DeversiFi CEO talks building on Ethereum in 2015 vs now, benefits of decentralized exchange and shares customer stories

CryptoSlate recently caught up with Will Harborne, the co-founder and CEO of DeversiFi, a decentralized crypto exchange that was formerly known as Ethfinex. Even though decentralized exchanges are still in their infancy, in the five years since the first iterations launched (think EtherDelta), they have evolved to a point where they are now starting to […] The post DeversiFi CEO talks building on Ethereum in 2015 vs now, benefits of decentralized exchange and shares customer stories appeared first on CryptoSlate.

2019-11-20 16:52


QTUM Performs First Proof of Stake Hard Fork

The dreaded hard fork; a point of no return for many contentious blockchain splits in the past. But in the case of the QTUM network, it’s all a part of the plan. While Ethereum and Cardano developers continue to wrestle with questions surrounding their approach to Proof-of-Stake (PoS) consensus, QTUM developers are charging ahead with […] The post QTUM Performs First Proof of Stake Hard Fork appeared first on Crypto Briefing.

2019-10-17 17:59


In-person meatspace protocol to prove unconditional possession of a private key

Recommended pre-reading: https://ethresear. ch/t/minimal-anti-collusion-infrastructure/5413 Alice slowly walks down the old, dusty stairs of the building into the basement. She thinks wistfully of the old days, when quadratic-voting in the World Collective Market was a much simpler process of linking her public key to a twitter account and opening up metamask to start firing off votes.

2019-10-2 04:03


Ethfinex evolves into DeversiFi for an improved decentralized exchange

Ethfinex evolves into DeversiFi for an improved decentralized exchange » CryptoNinjas Ethfinex Trustless, the hybrid Ethereum exchange platform launched by Bitfinex in mid-2018, is evolving into DeversiFi, an improved decentralized exchange where traders can execute orders of any size directly from the security of their private wallet, whilst accessing the liquidity of large existing exchanges.

2019-8-13 17:30


Bitpoint назвала суммы украденных при взломе криптовалют

Японская криптобиржа Bitpoint опубликовала данные о криптоактивах, украденных у нее в результате взлома в конце прошлой недели. В отчете материнской компании криптобиржи, Remix Point, указано, что средства были похищены в пяти криптовалютах: биткоинах (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) и Ripple (XRP).

2019-7-16 16:52


Sidechains vs Plasma vs Sharding

Special thanks to Jinglan Wang for review and feedback One question that often comes up is: how exactly is sharding different from sidechains or Plasma? All three architectures seem to involve a hub-and-spoke architecture with a central “main chain” that serves as the consensus backbone of the system, and a set of “child” chains containing actual user-level transactions.

2019-6-14 04:03


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru