Ethereum ETF issuer Bitwise launches ad marketing its spot ETH ETF. ETH restaking and rehypothecation have been on an upward trendsince April. Ethereum's open interest decline could help cool rising volatility. Ethereum's price is down about 1% on Thursday following a Bitwise Ethereum ad that slightly poked fun at traditional finance. Meanwhile, Ethereum restaking has continued to grow amid potential systemic risks.
ETH's new OI high comes despite Ethereum's price not yet reaching a new all-time high, leading to increased volatility and liquidations. The drop in OI could calm the market temporarily as the anticipation for spot ETH ETFs builds on. Also read:Spot Ethereum ETF anticipation wipes nearly $70 million worth of ETH The ETH Taker Buy Sell ratio also supports the bullish sentiment. The ratio measures the volume of buyers and sellers in the derivatives market.
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Source: CoinDesk - 🏆 291. / 63 Read more »