Ethereum Futures Contracts Hit Record Open Interest of $604.4 Billion, Surging Over 19% in Just 30 Days

According to data from Coinglass, the open interest in Ethereum futures has surged to an unprecedented level, hitting $604.4 billion as of August 19. This marks a significant increase from $506.8 billion just a month earlier, equating to a robust growth rate of over 19.25% within the last 30 days. This surge in open interest indicates a rising investor confidence in Ethereum amid ongoing market developments. Furthermore, the total open interest for Bitcoin futures across all trading platforms has also witnessed substantial growth, currently totaling $814.8 billion. As interest in digital assets remains high, these figures may signal an evolving landscape for institutional and retail traders alike, emphasizing the importance of monitoring such metrics closely for insights into market sentiment and future trends.