In the past three weeks, Ethereum’s open interest has surged by approximately $1.5 billion, signaling increased activity in leveraged trading and accompanying volatility. On-chain reports reveal that a major whale deposited 25,800 ETH, valued at $87 million, into Binance today. #Ethereum Open Interest data has increased by approximately $1.5 billion in the last 3 weeks “As leveraged trading increases, liquidations become inevitable. This, in turn, brings high volatility. Therefore, I believe that OI is one of the data points that needs to be closely… pic.twitter.com/XTNz8sDuZU — CryptoQuant.com (@cryptoquant_com) July 29, 2024 This follows a period where the same whale withdrew
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