Editor's PiCK
"Ethereum Hits All-Time High in Open Interest... $10,000 Possible by Q2 Next Year"
Summary
- Ethereum's perpetual futures open interest hit an all-time high of $45.68 billion.
- Ethereum's network fee revenue surged to $12.4 million, a 109% increase from the previous week.
- Some analysts project that based on this trend, Ethereum could rise to $10,000 by the second quarter of next year.
With Ethereum (ETH) perpetual futures open interest (OI) reaching an all-time high, there is an outlook that it could reach $10,000 by the second quarter of next year.
According to Cointelegraph on the 16th (local time), Ethereum futures open interest recorded $45.68 billion, marking a historical high. This figure represents an approximate 31% increase from a week ago and, as of June 22, a striking 64% rise. Additionally, fee revenue has surged. Ethereum network fees reached $12.4 million, a 109% increase compared to the previous week.
The media outlet evaluated, "The increase in open interest indicates heightened demand and interest in Ethereum," and added, "The rise in tokens burned due to Ethereum fees could have a positive effect on its price."
Consequently, there are even arguments that Ethereum could reach as high as $10,000. Crypto analyst John K. Davies stated, “From a very conservative perspective, Ethereum could reach $6,000 by the end of this year,” and predicted, “It could surpass $10,000 in the second quarter of next year.”
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[New York Stock Market Briefing] Rebound on bargain hunting in blue chips…Apple jumps 4%](https://media.bloomingbit.io/PROD/news/3710ded9-1248-489c-ae01-8ba047cfb9a2.webp?w=250)
