“On November 22, Ethereum futures open volume (EP) jumped more than 12% to an ATH of $20.8 billion, signaling bullish momentum. This was stated in CryptoQuant, writes The Block. Source: Coinglass. The metric is up more than 40% over the past four months, surpassing the previous high of $17 billion in May. Positive financing rates (0.026%) and record leverage also testify in favor of the growth of the price of the second largest cryptocurrency. The last, expressed […]”, — write: businessua.com.ua
On November 22, the volume of open positions (OP) for Ethereum futures jumped by more than 12%, to ATH at $20.8 billion, signaling a bullish momentum. It was announced in CryptoQuant, writes The Block.
Source: Coinglass.
The metric is up more than 40% over the past four months, surpassing the previous high of $17 billion in May.
Positive financing rates (0.026%) and record leverage also testify in favor of the growth of the price of the second largest cryptocurrency.
The latter, expressed in the form of the ratio of VI to exchange reserves, rose to a new record of 0.4, experts indicated.
CryptoQuant warned of increased leverage and a preponderance of long positions, which could increase the risk of them being forced out due to price volatility.
On the morning of November 22, the rate of the second largest cryptocurrency exceeded $3,400. At the time of writing, the price has retreated below $3,300, showing a 1.4% decline in the last 24 hours.
As a reminder, on November 15, the daily amount of transferred on-chain value in Ethereum (7 DMA) reached a maximum of $7.13 billion since the beginning of the year. From November 9 to 15, ETH-ETF received a record $515.2 million.
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