Ethereum OI Hits $7.7 Billion, Why A Rally Might Be In The Works

Ethereum open interest (OI) had seen a meteoric rise in the weeks leading up to the Ethereum Merge. Even after the Merge, the open interest has not declined, given all of the new interest from institutional investors following the network’s move to a proof of work mechanism. This time around, the Ethereum open interest has hit another important high point, which points to a possible rally in the price of ETH.

Open Interest Reaches $7.7 Billion

Ethereum open interest still remains high despite ETH’s decline to the low $1,000s back in September. Data shows that the open interest in ETH has reached $7.7 billio