"Ethereum open interest share approaches 40%... investors' focus shifting from BTC to ETH"
Summary
- Ethereum's open interest (OI) share is nearing 40%, marking its highest level since April 2023.
- Analysis indicates that investor sentiment is shifting from Bitcoin to Ethereum.
- An increase in open interest signals that capital is flowing into the market.
Analysis suggests that speculative interest among investors in Ethereum (ETH) is rising again.
On the 29th, on-chain analytics platform Glassnode announced, "Ethereum's open interest (OI) share is nearing 40%, marking its highest level since April 2023." Statistically, this figure is within the top 5%, indicating that investor sentiment in the market is shifting from Bitcoin towards Ethereum.
Glassnode stated, "Capital is gradually rotating from Bitcoin into Ethereum," and added, "This shift is a clear signal that speculative demand is concentrating on ETH."
Meanwhile, open interest refers to outstanding contracts in derivatives such as futures and options that have not yet been settled. An increase in open interest indicates that capital is flowing into the market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
