Ethereum's Open Interest Hits a New All-Time High

by in Cryptocurrency News

Ethereum news futures trading

According to data analytics company Skew, the total number of Ether futures hit a new all-time high of $12.6 bln on November 10. The previous peak was reached recently, on September 6, when the indicator hit $11.1 bln.

Related: Bitcoin and Ether Hit New All-Time Highs Today

Open interest for BTC futures stands at $26.4 bln. The peak was set on April 14, 2021, when the amount stood at $27.4 billion. These numbers show that money is flowing into the crypto products, which is a sign of a bullish trend. High interest in futures trading means that Ether and BTC may keep their current prices, with the perspectives of growth.

Lately, leading bank Goldman Sachs shared predictions on Ether price. Experts of the institution say Ether may go up to $8.000 in the following two months.

Goldman's predictions are based on studies of Ether's price dependence on inflation. Presently, the largest altcoin trades at around $4.700. Ether reached its all-time high of $4.859 on November 10.