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The latest data shows that the Ethereum (ETH) derivation market has experienced significant fluctuations recently. In the past day, the open interest for ETH across the network has decreased by 5.98%, and the total holdings have now fallen to 52.251 billion USD.
This change reflects the cautious attitude of market participants towards the short-term trend of Ethereum. Among major trading platforms, Binance still leads, with an ETH open interest reaching 9.644 billion USD. Following closely is Bybit, with an open interest of 3.882 billion USD, while OKX ranks third with an open interest of 2.974 billion USD.
The decrease in open interest may stem from various factors, including changes in market sentiment, adjustments in the macroeconomic environment, or shifts in investors' risk preferences. However, despite the short-term fluctuations, Ethereum's core position in the cryptocurrency ecosystem remains solid.
As the market continues to evolve, investors and analysts will closely monitor the subsequent developments of this trend to assess its potential impact on Ethereum prices and the overall cryptocurrency market.