Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

SyntternNet Partners with Hive Intelligence to transfer AI agents to the chains in 60+ block chains

2025-05-14

British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

2025-05-14

The Shibuya streaming platform from PPLEPPLEASR is back with 5 epic short films

2025-05-14
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    SyntternNet Partners with Hive Intelligence to transfer AI agents to the chains in 60+ block chains

    2025-05-14

    Co-founder of Solana Anatoly proposes a Metablokchain concept

    2025-05-14

    Layer-2 Blockchain explosion ends safe integration on the risks of third parties risks

    2025-05-14

    Codexfield bundles forces with LoveBit to stimulate ESG Innovation in Web3 & Crypto

    2025-05-14

    SFT protocol joins Glacier Labs to bridge physical and data infrastructure

    2025-05-14
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Republican senators call on Treasury to illuminate crypto tax laws to play with foreign companies at the level of ‘level’

    2025-05-14

    Former leader for CFTC chair role resigns to Leiden Blockchain Association

    2025-05-14

    Dubai Government announces a partnership with Crypto.com to accept payments in digital assets

    2025-05-14

    American legislators warn Treasury about taxing the non -realized crypto wins of American companies

    2025-05-13

    Fed Council Warns Stablecoins can pose a risk for bank deposits and credit capacity

    2025-05-13
  • Analysis

    $ 36 is in the cards as a period of 3 months becomes bullish?

    2025-05-14

    Low Cap Nasdaq-Gentered Company reveals $ 300,000,000 fundraising plan to acquire crypto, including the Trump token of the president: report

    2025-05-14

    Why $ 2.69 contains the key

    2025-05-14

    According to analyst Jason Pizzino, it will be time to be careful to carefully turn to cryptomarkets

    2025-05-14

    XRP sees renewed trading activity while the market absorbs sales pressure

    2025-05-14
  • Learn

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Ethereum Open Interest Wins $1 Billion – Impact on ETH?
Altcoins

Ethereum Open Interest Wins $1 Billion – Impact on ETH?

2024-06-16No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • While open interest increased, financing rates remained stagnant.
  • The price of the altcoin could continue to fluctuate between $3,400 and $3,600 in the short term.

One day after Ethereum [ETH] Open Interest dropped to $13.14 billion and added another billion to its value. At the time of writing, Open Interest (OI) stood at $14.10 billion, according to data from Glassnode.

OI is the value of outstanding futures contracts in the market. When it drops, it means traders are closing positions related to the cryptocurrency. However, an increase suggests otherwise.

Speculation is a ticket to a new high

This is evident from the increase in the number of Ethereum contracts increased speculative activity about the altcoin. In many cases, an increase in OI provides strength in the price direction.

It may be no different for ETH. At the time of writing, ETH has changed hands at $3,563, marking a slight increase of 1.10% in the past hour.

It looks like this could be the start of a significant uptrend for the cryptocurrency.

Ethereum's open interest is risingEthereum's open interest is rising

Source: Glassnode

However, trading volume was down 35.36% in the past 24 hours. The drop in trading volume is a sign that activity related to ETH was lower in the spot market.

If spot market activity continues to decline while derivatives market trading increases, ETH’s price could linger around $3,500 to $3,600.

But if buying pressure increases in the spot market, the altcoin could jump towards $3,800.

The skepticism lingers

Despite the outlook, Ethereum’s funding rate has remained stable since June 8. The financing rate is the cost of maintaining an open position in the derivatives market.

See also  Pepecoin ($PEPE) Price Will Rise 2x Soon While Bitcoin Plays a Waiting Game

If the financing is positive, this means that the contract price is more expensive than the spot price. In a situation like this, longs pay short to keep their positions open.

On the other hand, negative financing implies that shorts make longs. Also, the contract value of the cryptocurrency is at a discount.

The low financing rate and high price apply to ETH resources that spot volume could increase soon.

If this is the case, the reasonable inference could be a bullish move for Ethereum. Nevertheless, the price of the cryptocurrency may not reach $4,000 in the coming week.

Ethereum's funding rate indicates a bullish outlookEthereum's funding rate indicates a bullish outlook

Source: Santiment

In addition, AMBCrypto looked at the Taker Sell Ratio. To obtain this ratio, we must divide the sales volume by the total number of perpetual swaps.

When the ratio is lower than 0.5, it means that the selling pressure has decreased. However, a value higher than 0.5 indicates the selling is dominant on the market.


Realistic or not, here is the market cap of ETH in BTC terms


At the time of writing, Ethereum’s Taker Sell Ratio was 0.50, according to data from CryptoQuant. If conditions remain the same, ETH’s price may struggle to reach $4,000 as previously mentioned.

In the coming week, the cryptocurrency could trade between $3,400 and $3,600, similar to previous weeks.

Next: Solana Beats Bitcoin, Ethereum on THIS Front: Will SOL Rise Too?

Source link

Billion ETH Ethereum impact Interest open Wins
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Will Ethena [ENA] Break the $ 0.60 ceiling afterwards? 3 signs say yes

2025-05-14

Pundit reveals when everything has to sell

2025-05-14

Altcoin season is brewing! – Traders, are you prepared for what is there?

2025-05-14

Crypto reforms delayed until 2029 without a brilliant action!

2025-05-14
Add A Comment

Comments are closed.

Top Posts

Dogecoin confirms daily trends with breakout, retest and new uptrend

2025-04-27

Bringing major content creators to Drip Haus key to mass adoption strategy

2023-08-02

ORC-20 Trading Volume Record High After Binance Academy Hint

2023-05-19
Editors Picks

Thanks to these holders, Bitcoin is at risk of a correction

2024-03-04

Affine & Chainlink Pioneering the future of cross-chain NFTs!

2023-10-30

CPIC IMHK and MAP Protocol join forces for Bitcoin innovation

2024-03-29

Bitcoin and Solana will have 75% of all NFTs deployed by 2023

2024-01-20

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

SyntternNet Partners with Hive Intelligence to transfer AI agents to the chains in 60+ block chains

British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

The Shibuya streaming platform from PPLEPPLEASR is back with 5 epic short films

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,060.67-0.65%
  • ethereumEthereum(ETH)$2,578.02-3.50%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.52-1.59%
  • binancecoinBNB(BNB)$646.62-2.39%
  • solanaSolana(SOL)$174.54-4.56%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.228444-4.07%
  • cardanoCardano(ADA)$0.79-4.09%
  • tronTRON(TRX)$0.271686-0.13%
  • suiSui(SUI)$3.85-3.69%
  • chainlinkChainlink(LINK)$16.77-3.09%
  • avalanche-2Avalanche(AVAX)$24.52-5.35%
  • stellarStellar(XLM)$0.300498-3.43%
  • shiba-inuShiba Inu(SHIB)$0.000015-4.53%
  • hedera-hashgraphHedera(HBAR)$0.202943-4.93%
  • hyperliquidHyperliquid(HYPE)$24.98-2.77%
  • unus-sed-leoUNUS SED LEO(LEO)$8.891.43%
  • the-open-networkToncoin(TON)$3.22-6.13%
  • bitcoin-cashBitcoin Cash(BCH)$397.87-2.98%
  • polkadotPolkadot(DOT)$4.90-5.61%
  • litecoinLitecoin(LTC)$99.91-3.26%
  • moneroMonero(XMR)$336.57-1.88%
  • piPi(PI)$0.82-34.94%
  • pepePepe(PEPE)$0.000014-4.51%
  • bitget-tokenBitget Token(BGB)$4.78-1.16%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$6.57-6.27%
  • bittensorBittensor(TAO)$451.43-1.58%
  • nearNEAR Protocol(NEAR)$3.02-6.78%
  • aptosAptos(APT)$5.71-6.50%
  • aaveAave(AAVE)$226.97-3.53%
  • okbOKB(OKB)$54.57-0.53%
  • ondo-financeOndo(ONDO)$1.00-3.73%
  • kaspaKaspa(KAS)$0.118370-2.37%
  • ethereum-classicEthereum Classic(ETC)$19.63-5.10%
  • internet-computerInternet Computer(ICP)$5.57-5.79%
  • gatechain-tokenGateToken(GT)$21.73-1.66%
  • crypto-com-chainCronos(CRO)$0.100115-2.31%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.19-1.88%
  • mantleMantle(MNT)$0.78-4.60%
  • render-tokenRender(RENDER)$4.99-5.61%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.246315-5.52%
  • vechainVeChain(VET)$0.029825-6.96%
  • ethenaEthena(ENA)$0.401444-9.88%
  • usd1World Liberty Financial USD(USD1)$1.00-0.06%
  • filecoinFilecoin(FIL)$3.01-7.21%
  • arbitrumArbitrum(ARB)$0.420670-7.05%
  • algorandAlgorand(ALGO)$0.231843-6.29%
  • bitcoinBitcoin(BTC)$103,060.67-0.65%
  • ethereumEthereum(ETH)$2,578.02-3.50%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.52-1.59%
  • binancecoinBNB(BNB)$646.62-2.39%
  • solanaSolana(SOL)$174.54-4.56%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.228444-4.07%
  • cardanoCardano(ADA)$0.79-4.09%
  • tronTRON(TRX)$0.271686-0.13%
  • suiSui(SUI)$3.85-3.69%
  • chainlinkChainlink(LINK)$16.77-3.09%
  • avalanche-2Avalanche(AVAX)$24.52-5.35%
  • stellarStellar(XLM)$0.300498-3.43%
  • shiba-inuShiba Inu(SHIB)$0.000015-4.53%
  • hedera-hashgraphHedera(HBAR)$0.202943-4.93%
  • hyperliquidHyperliquid(HYPE)$24.98-2.77%
  • unus-sed-leoUNUS SED LEO(LEO)$8.891.43%
  • the-open-networkToncoin(TON)$3.22-6.13%
  • bitcoin-cashBitcoin Cash(BCH)$397.87-2.98%
  • polkadotPolkadot(DOT)$4.90-5.61%
  • litecoinLitecoin(LTC)$99.91-3.26%
  • moneroMonero(XMR)$336.57-1.88%
  • piPi(PI)$0.82-34.94%
  • pepePepe(PEPE)$0.000014-4.51%
  • bitget-tokenBitget Token(BGB)$4.78-1.16%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$6.57-6.27%
  • bittensorBittensor(TAO)$451.43-1.58%
  • nearNEAR Protocol(NEAR)$3.02-6.78%
  • aptosAptos(APT)$5.71-6.50%
  • aaveAave(AAVE)$226.97-3.53%
  • okbOKB(OKB)$54.57-0.53%
  • ondo-financeOndo(ONDO)$1.00-3.73%
  • kaspaKaspa(KAS)$0.118370-2.37%
  • ethereum-classicEthereum Classic(ETC)$19.63-5.10%
  • internet-computerInternet Computer(ICP)$5.57-5.79%
  • gatechain-tokenGateToken(GT)$21.73-1.66%
  • crypto-com-chainCronos(CRO)$0.100115-2.31%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.19-1.88%
  • mantleMantle(MNT)$0.78-4.60%
  • render-tokenRender(RENDER)$4.99-5.61%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.246315-5.52%
  • vechainVeChain(VET)$0.029825-6.96%
  • ethenaEthena(ENA)$0.401444-9.88%
  • usd1World Liberty Financial USD(USD1)$1.00-0.06%
  • filecoinFilecoin(FIL)$3.01-7.21%
  • arbitrumArbitrum(ARB)$0.420670-7.05%
  • algorandAlgorand(ALGO)$0.231843-6.29%