Recent events in the Ethereum market have led to significant changes in prices and open positions. A sharp correction has increased interest in the $2400 mark.
Significant CME Gap in Ethereum
Ethereum is currently trading at $2249.79, down 0.10% in the last 24 hours and 13.98% over the past week. The recent drop in prices has created a CME gap between $2300 and $2400. This gap makes $2400 a key technical target for traders. Immediate resistance is found at $2300. The short-term trend remains bearish, but any sustained move above this level could lead to a gap filling attempt.
Futures Market and Risks
Despite falling prices, Ethereum Futures Open Interest remains elevated at $29.23 billion. This indicates that traders continue to place positions, possibly expecting a bounce or a volatility-driven opportunity. However, without strong buy-side support, the growing open interest may signal potential risks. Elevated open interest during market stress often contributes to price acceleration, particularly on the downside. The current setup creates a critical moment.
Growth of Ethereum's Market Share Amid Altcoin Decline
Recent trading volume data from Binance shows that Ethereum's dominance has increased, but this wasn't due to a surge in ETH activity. From early 2024 to mid-2025, ETH volume stayed between 300T and 490T, while altcoin volume dropped from 1.5672Qa to 387.47T. This shift points to a decrease in trader interest in smaller assets. Rather than increasing Ethereum inflows, the dominance growth stems from altcoin exits. This change reflects more cautious market behavior.
Ethereum continues to remain one of the leading cryptocurrencies despite market fluctuations. The growing market share alongside high open interest in futures underscores the significance of current price levels and investor expectations.
