Ethereum saw a hike in Open Interest, even though it did not establish a clear uptrend on the higher timeframes. What this means is that...
, at press time, was trading within a range that reached from $2.8k to $2.2k. In particular, the $2.8k region has served as a steadyis trading 8% below its ATH, Ethereum is 46.3% away from its ATH. The altcoin’s performance must be looked at within the context of Vitalik Buterin’s vision for the next possible upgrade, “The performance of an asset is a clear insight into what the market believes the asset’s value is, and what it can be.
In turn, this could drive demand. As things stand, a rocky ride could be ahead for ETH on the price charts.The estimated leverage ratio is calculated by dividing the Open Interest by the exchange’s coin reserves. Coinglass data also revealed that Open Interest has risen from $10 billion to $13 billion for ETH since the second week of August.
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