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Ethereum has gained bullish traction with the crypto asset reclaiming and surging past the $2,600 price level as Tuesday drew to a close. ETH’s recent upward performance has been attributed to several key factors in ETH’s market dynamics, including the Open Interest (OI).
A Sharp Uptick In Ethereum Open Interest
As Ethereum’s price shows signs of upside strength, a crucial shift has occurred in its market dynamics. During this recent upside performance, ETH’s derivatives market is heating up as evidenced by a sharp rise in its open interest.
Seasoned technical and on-chain analyst Maartunn reported a rise in ETH’s open interest on the X platform, signaling an increase in speculative activity and investor engagement. The recent
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