Open Interest in Ethereum Goes All-Time High as The Merge Gets Near
Join Our Telegram channel to stay up to date on breaking news coverage The Merge is right at the doorstep. With the launch only a few weeks away, people&rsquo ;s interest in Ethereum has grown more volatile. The open interest in Ethereum has risen as the blockchain is closer to shifting to Proof-of-Stake. A Sharp Rise in Ethereum Open Interest According to the report we’ve come across from Arcane Research, the open interest in ETH in futures and perps has risen to 1.2 million within the last week. Open interest refers to the total number of open positions on Ethereum futures and perpetual contracts in the current market. These positions contain both short (people who’re betting the ETH 2.0 will succeed) and long (people who’re betting on ETH to fail). Historically, whenever this (open interest) indicator has seen an uptrend, the volatility of the market has increased. We are amidst the crypto winter, and this added volatility to the market has bound to make...