Open interest in Ethereum in the derivatives market has risen to its highest level in over two years, reaching nearly 40% of the total volume. This is the highest figure since April 2023.
This is reported by Business • Media
Growth of Open Interest and Market Dynamics
According to the analytical platform Glassnode, such a level of Ethereum’s dominance has only been surpassed in 5% of cases throughout the market’s history. Experts believe this indicates a shift in sentiment among traders and an active flow of capital from Bitcoin to Ethereum. The volume of open positions in Ethereum futures on the CME exchange reached a record $7.85 billion in July. An analyst under the pseudonym ELI5 of TLDR notes that Bitcoin’s share in the derivatives market structure has decreased from 65.1% to 61.1%. According to him, such a trend in the past has often been a sign of the beginning of the so-called “alt season,” when investor interest shifts to altcoins.
“The dominance of open interest in Ethereum has reached nearly 40% — the highest level since April 2023”.
Large Transactions and ETH Price Dynamics
On July 29, 2025, an unknown investor made a significant purchase of Ethereum worth $40 million on the Coinbase exchange, according to data from Arkham. Currently, the asset’s value exceeds $3800, and a steady increase is recorded on the ETH/USDT charts on Binance.
ETH/USDT Chart on Binance. Data: TradingView.