Ethereum News Today: Ethereum Futures Open Interest Hits $60.8 Billion Record Amid 51% Price Surge

Ethereum’s futures open interest reached an all-time high of $60.8 billion in early August 2025, according to recent market analytics [1]. This record high was driven primarily by ETH’s sharp price appreciation, which saw the asset rise 51% over the previous 30 days. However, the surge in open interest was not accompanied by a corresponding increase in leveraged bullish positioning. In fact, open interest in ETH terms stood 11% below its peak of 15.5 million ETH recorded on July 27, highlighting the subdued demand for leveraged exposure despite the strong price performance [1].

The annualized premium for ETH perpetual futures settled at 11%, indicating a neutral level of speculative demand from traders [1]. This figure contrasts with previous bullish cycles, where premiums often exceeded 13%. Moreover, the 30-day futures annualized premium dropped to 8% from 11% the prior week, further reinforcing the notion that aggressive positioning in leveraged longs has not returned to previous levels [1]. These figures suggest that the recent ETH price rally is more a reflection of broad market participation and institutional buying than a surge in speculative leverage.

On-chain data, however, points to weakening fundamentals for Ethereum’s long-term dominance. Total Value Locked (TVL) on the Ethereum network fell by 7% over the last 30 days, declining from 25.4 million ETH to 23.3 million ETH [1]. Meanwhile, weekly base layer fees dropped to $7.5 million, significantly below the $14.3 million and $9.6 million recorded by Tron and Solana respectively [1]. These developments indicate that Ethereum is losing traction in the layer-1 space, as alternative blockchains continue to capture more transaction volume and developer activity.

Corporate adoption trends also reflect a shift away from Ethereum. Major institutions such as Stripe, Circle, Tether, and JPMorgan have opted to develop their own proprietary blockchain systems rather than utilizing Ethereum’s layer-2 infrastructure [1]. This move underscores a growing preference for controlled, closed ecosystems over open, decentralized networks, potentially limiting Ethereum’s role in the broader financial infrastructure.

Despite these structural challenges, Ethereum’s spot price reached $4,500 in early August, supported by strong ETF inflows that hit a record $1 billion in the same period [1]. The increased liquidity in the ETH/USDC trading pair, as evidenced by tighter bid-ask spreads, also points to growing institutional interest in the asset [2]. However, analysts have warned that a high level of open interest combined with rising prices could expose the market to potential profit-taking or liquidation events if the price begins to stall or reverse [1].

While Ethereum continues to show resilience in the short term, the broader market is sending mixed signals. The record high in open interest reflects strong price action, but the lack of leveraged demand and declining on-chain metrics raise questions about the sustainability of the rally. Investors and stakeholders should closely monitor these trends as they develop, as they may provide early signals about Ethereum’s future trajectory in a rapidly evolving crypto landscape [1].

Source:

[1] https://cointelegraph.com/news/ether-futures-open-interest-hits-all-time-high-as-eth-price-tops-dollar4-5k-will-it-last

[2] https://www.binance.com/en/square/hashtag/ETFS