Ethereum's rally is experiencing low retail activity but increasing interest from larger market participants in derivatives market.
Despite Ethereum's price increase, retail investors have not shown significant participation, unlike previous patterns during market peaks.
Derivatives trading volume and open interest for Ethereum are on the rise, indicating preparation by larger players for an imminent market move.
Institutional investors have been accumulating Ethereum while retail investors remain cautious or are waiting for clearer signals, suggesting the early phase of Ethereum's market rally may not be over yet.