<ul><li>Ethereum has shown bullish traction, surpassing the $2,600 level as demand rises, attributed to its Open Interest in the derivatives market.</li><li>The Ethereum Open Interest has hit a new peak of 7.18 million ETH in futures, valued at $19.1 billion, signaling increased speculative activity and investor engagement.</li><li>Crypto expert Poseidon notes that the surge in Open Interest is driven by an increase in short positions as investors hedge against volatility, despite holding long positions in other altcoins.</li><li>ETH has outperformed Bitcoin in Q2 as it records a growth of approximately 40%, indicating strong resilience and momentum, fueling speculations of a potential move towards key resistance levels and new all-time highs.</li></ul>

Ethereum Futures Market Boom As Open Interest Surges To A New Peak

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