Open interest in Ethereum futures has exceeded $15.6 billion for the first time. This is a new historical maximum.
The upward trend in the asset began on May 19 ahead of the potential approval of spot Ethereum ETFs in the US. Open interest measures the total volume of futures contracts that have yet to be closed.
An increase in OI indicates an increase in the number of market participants opening new positions. The leaders in open interest in Ethereum futures are cryptocurrency exchanges Binance and Bybit, with $6.39 billion and $3.56 billion, respectively.
