On the 3rd of January, the aggregated open interest on Ethereum (ETH) derivatives hit an all-time high. According to data compiled by The Block Research, open interest on Ethereum options and futures recently recorded new highs.
The Block noted in a report that Ethereum futures had climbed $2.26 billion on the 3rd of January, with Binance as the largest shareholder at 28.6%. Also, OKEx was the second-largest shareholder at 17.8%, with Huobi as the third-largest shareholder at 14.4%.
On the same day, Ethereum open interest options peaked at $1.22 billion. The Block revealed in the report that Deribit held the largest share at 86.8%.
The new Ethereum futures record is a 28.6% increase from its December high. On the 28th of December, Ethereum Futures Open Interest recorded an all-time high of $2.21 billion. Shortly after the new record, the price of ETH rallied from about $700 to $738.
Since then, ETH has been pulling in significant gains and hitting new all-time highs. At press time, Ether (ETH) is up 6.40% to $1,086.10. The current ETH price shows that the digital asset is performing well over general market predictions.
In November last year, crypto analyst MagicPoopCannon predicted that ETH would rise rapidly from $750 to $830. Speaking further, the analyst said that ETH could continue to pull in gains weto reach its 2018 all-time high of $1,400.
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