David Alexander II
@megafund
Since the Pectra ugrade went live on May 7th, open interest on ETH futures has surged by $10B (46%), pushing total OI above $30B for the first time since January. Meanwhile, ETH itself is up 42% over the same period. Interestingly, total open interest is now up by $19B (167%) YTD (red) compared to last May when the price of ETH was around $3,000 and open interest was just $11.5B (blue). Nevertheless, favorable macro conditions will help continue to drive this momentum.
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