Ethereum

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<p>Ethereum has, for the most part, established a foothold above the $3,500 price level throughout the week as investors <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-momentum-4k/">continue to anticipate</a> a <a href="https://bitcoinist.com/ethereum-eth-breaks-two-year-price-record/" rel="nofollow">return to the $4,000 mark</a>. Interestingly, <a href="https://bitcoinist.com/ethereum-price-reach-14000/" rel="nofollow">the optimism</a> has seen the open interest of Ethereum <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-open-interest-record-2/">surging to new highs</a>. The surge in open interest, although a bullish sentiment indicator, can also serve as a bearish signal of an impending change in market trend.&nbsp;</p> 
<p>Ultimately, this metric added to the current dynamics of the Ethereum ecosystem, including regulatory uncertainty and scalability concerns hinting at a complicated price trajectory for the price of Ethereum.</p> 
<h2 id="ethereum-open-interest-reaches-new-high">Ethereum Open Interest Reaches New High</h2> 
<p><a href="https://bitcoinist.com/bitcoin-open-interest-peaks-at-34-billion/" rel="nofollow">Open interest</a> is an efficient method for tracking the total number of open positions in a particular contract. Recent market dynamics and institutional investor interest have seen the total open interest in Ethereum futures surging above records set in the 2021 bull market phase.</p> 
<p>According to data from <a href="https://www.coinglass.com/currencies/ETH" rel="nofollow">Coinglass</a>, the open interest on Ethereum futures, which has been on a surge since February 5, recently set a new high of $14.11 billion on March 15. This wasn’t particularly surprising, as a strong buying momentum from the bulls in the prior days saw the price of Ethereum surging past the $4,000 mark for the first time in two years.&nbsp;</p> 
<p>However, Ethereum has since reversed from the $4,000 price level and is currently trading below $3,600. On the other hand, the total open interest on Ethereum contracts has maintained around its all-time high level, which allowed it to cross over $14.10 billion again on March 28. The open interest weighted average also went up to 0.0462%, indicating an increase in the demand for leveraged ETH long positions.</p> 
<p>The majority ($4.55 billion) in the Ethereum futures market were registered on cryptocurrency exchange Binance. Bybit and OKX came in second and third, with $2.39 billion and $1.94 billion respectively. Interestingly, CME’s Ether futures also surged to $1.3 billion. At the time of writing, the CME’s Ether futures now sit at $1.31 billion, reiterating the committed bullishness among institutional investors.</p> 
<h2 id="what-s-next-for-eth">What’s Next For ETH?</h2> 
<p>Ethereum has been trading flat since the beginning of the week and is currently on a 0.78% gain in the past seven days. All eyes are <a href="https://bitcoinist.com/ethereum-in-the-hot-seat-sec-security-label-looms/" rel="nofollow">now on reports of the SEC</a> looking into <a href="https://bitcoinist.com/ethereum-not-security-sec-probe-a16z/" rel="nofollow">Ethereum’s security statu</a>s, the industry awaits an official ruling similar to the one that was handed down in the XRP case that will finally provide clarity to the regulatory landscape.</p> 
<p>At the same time, investors continue to <a href="https://bitcoinist.com/ethereum-etf-issuers-brace-for-sec-march-meeting/" rel="nofollow">await the SEC’s decision</a> regarding the applications of Spot Ethereum <a href="https://bitcoinist.com/ethereum-spot-etf-mirrors-bitcoins-strength/" rel="nofollow">exchange-traded fund (ETF)</a> in the US. According to a Bloomberg senior analyst, the <a href="https://bitcoinist.com/ethereum-spot-etf-expert-predicts-approval-odds/" rel="nofollow">likelihood of approval is only 25%.</a></p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/zcwbsW4a/" alt="Ethereum price chart from Tradingview.com" width="3286" height="1530"></p>

Brace For Market Impact: Ethereum Open Interest Has Reached A New All-Time High

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