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Ethereum Eyes $2,850 Breakout as CME Exchange Drives Record Futures Open Interest
Ethereum Eyes $2,850 Breakout as CME Exchange Drives Record Futures Open Interest
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CME exchange News -
Ethereum briefly surged past $2,850 as futures open interest hit a record 15.21 million ETH, driven by strong institutional demand. The Volatility Shares 2x Leveraged ETH ETF led the charge, with CME accounting for most of the growth.
Accumulation addresses absorbed over 400,000 ETH in five of the last seven days, showing strong investor confidence. The price crossing above ETH''s 200-day moving average confirms bullish momentum, with funding rates trending upward.
Market dynamics indicate derivatives activity is increasingly influencing price action. The 12% three-day gain reflects growing risk appetite, particularly among institutions using regulated leveraged products.
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