Ethereum News Today: Ether Futures Open Interest Surpasses $60.8 Billion as Price Hits $4,518

Ether futures open interest reached an all-time high, surpassing $60.8 billion, as the price of ETH climbed above $4,518 amid a modest rise in U.S. consumer inflation. Despite the rally, derivatives data suggests the market’s bullish momentum may be overstated. The surge in open interest is largely attributed to ETH’s price appreciation rather than increased demand for leveraged long positions. In Ethereum terms, open interest remains 11% below the July 27 peak of 15.5 million ETH [1].

The annualized premium for ETH perpetual futures is currently 11%, a neutral level that does not signal excessive demand for leveraged bullish exposure. Earlier readings had shown premiums exceeding 13%, but such momentum has since faded. Monthly futures contracts, which typically trade at a 5% to 10% annualized premium, also reflect a tempered market sentiment. These contracts, preferred by institutional traders, saw the premium drop to 8% after hitting 11% on Monday [1].

Ethereum’s onchain activity tells a different story. Total value locked (TVL) on the Ethereum network fell by 7% over the past 30 days, declining from 25.4 million ETH to 23.3 million ETH. Meanwhile, weekly base layer fees dropped by 27% from the prior month, totaling $7.5 million. This lags behind key competitors like Solana ($9.6 million) and Tron ($14.3 million), further highlighting concerns over Ethereum’s competitiveness in the decentralized finance landscape [1].

Some major corporations and traditional financial institutions are developing their own layer-1 chains rather than building on Ethereum’s layer-2 infrastructure. Stripe, Circle, Tether, and JPMorgan are among the companies that have pursued this route, prioritizing control and tailored solutions over Ethereum’s decentralized model. This shift underscores a growing preference for private or semi-private blockchain solutions in enterprise applications, where full decentralization is not always necessary [1].

While spot ETF inflows indicate strong institutional demand for ETH, onchain metrics paint a less optimistic picture. The recent price rally does not appear to have driven a significant increase in leveraged long positions or active participation in decentralized finance protocols. This divergence between spot and derivatives activity suggests that market participants remain cautious, with many preferring to take profits rather than commit to aggressive bullish bets [1].

The nominal rise in open interest is primarily a function of ETH’s 51% price increase over the past 30 days, not a surge in speculative positioning. As such, the sustainability of the current rally remains uncertain. Analysts are closely watching key levels, such as $4,500 and $6,000, for signs of consolidation or liquidation. However, without a clear fundamental catalyst or sustained onchain activity, the market may face downward pressure in the near term [2].

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Source:

[1] Cointelegraph — [Ether futures open interest hits all-time high as ETH price tops $4.5K — Will it last?](https://cointelegraph.com/news/ether-futures-open-interest-hits-all-time-high-as-eth-price-tops-dollar4-5k-will-it-last?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)

[2] Facebook — [LIQUIDATION next TARGET Billions kwik](https://www.facebook.com/groups/Multiply.Bitcoin/posts/4140****99531568/)