Ethereum climbs 65% – But is this rally more than just hype? Analyzing…
Over the past month, the Ethereum (ETH) futures market has demonstrated significant strength, with Open Interest (OI) on Binance soaring by 41.6%, from $3.6 billion to $5.1 billion. The total ETH OI across all exchanges is now close to $17 billion, indicating robust institutional and derivatives-driven support for ETH’s price rally. The increase in OI coincides with ETH’s near 65% price rise, suggesting that the recent surge is supported by a strong structural backing rather than mere speculation.