HOT MOMENTS: Ethereum (ETH) Price Surpasses $3,700, Altcoins Also Gain Momentum – Here Are the Details

Ethereum (ETH) surpassed the $3,700 level, gaining 4.35% in the last 24 hours.

According to market data, ETH is currently trading at $3,704. Despite this rise, it is still 24.29% off Ethereum’s all-time high of $4,891.70 recorded in November 2021.

Chart showing the rise in ETH price.

According to Coinglass data, investors are increasing their bullish expectations for Ethereum. Ethereum futures open interest has been on an upward trend for more than a month. Total open interest, which surpassed $50 billion on July 17th, reached an all-time high of $52 billion today.

Total open interest currently stands at 14.31 million ETH, representing approximately $52.14 billion and representing a 0.74% increase over the past 24 hours. The rankings by exchange are as follows:

• Binance: Leading with $9.33 billion in open interest.
• CME (Chicago Mercantile Exchange): Second with $6.81 billion.

During the same period, spot fund movements in the cryptocurrency market also attracted attention. According to Coinglass data, the cryptocurrencies with the highest net inflows are:

1. Litecoin (LTC): $29.83 million
2. Solana (SOL): $15.97 million
3. Bitcoin Cash (BCH): $7.59 million
4. Ethena (ENA): $6.28 million
5. BNB: $5.65 million

In contrast, the assets with the highest net outflows are as follows:

1. Bitcoin (BTC): $156 million
2. Dogecoin (DOGE): $40.28 million
3. Tezos (XTZ): $40.05 million
4. Ripple (XRP): $38.23 million
5. TRON (TRX): $23.54 million

*This is not investment advice.

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