Open interest (OI) in Ethereum (ETH) futures marke

Open interest (OI) in Ethereum (ETH) futures markets has surged.

On the 24th (local time), crypto influencer Mario Nawfal reported on X (Twitter) that "Ethereum's open interest has surged," noting that "it has been steadily rising, recording an increase of about 6.5%, with nearly 10 million Ethereum currently tied up in futures contracts."

He further stated, "With so many long positions accumulating, the spot price remains low," and predicted, "If Ethereum breaks through that resistance level, a significant rise could occur."