Ethereum is showing significant growth, moving towards $3000, driven by market sentiment improvement and investor activity.
ETH Reaches Back to $3000
Ethereum (ETH) is demonstrating renewed strength, climbing towards the $3000 mark for the first time since February. It is currently trading around $2900, which is 6% higher than the previous 24 hours. Over the past days, ETH has recorded consistent gains, indicating sustained momentum. What stands out is that Ethereum’s recovery is not just about price but also about growing interest from major investors.
Spike in Ethereum Futures Activity
Ethereum’s futures market has become significantly more active over the past week. Open interest on CME has reached $3.27 billion, marking the highest level since early February. According to CryptoQuant, the overall Ethereum open interest across the market is above 8 million ETH, amounting to approximately $22.3 billion. Additionally, Ethereum futures volume surpassed Bitcoin's with $62.1 billion traded in 24 hours compared to Bitcoin's $61.7 billion.
Market Growth Signals and Institutional Purchases
Alongside the increased trading volume, there are positive signals in the market. Ethereum held on centralized exchanges has fallen to 18.59 million ETH, a record low. Simultaneously, the amount of staked Ethereum has reached a record high of 29.91 million ETH. Leon Waidman, head of the Onchain Foundation's research department, stated that the sentiment around Ethereum is at its strongest point of the year. This is also reflected in the activity of large investors who bought over 127,000 ETH worth about $358 million in just 24 hours.
Therefore, Ethereum is demonstrating not only price growth but also active interest from investors and institutional traders, creating optimistic expectations for the future.
