HOT MOMENTS: Ethereum (ETH) Price Surpasses $3,700, Altcoins Also Gain Momentum – Here Are the Details

Ethereum (ETH) surpassed the $3,700 level, gaining 4.35% in the last 24 hours.

According to market data, ETH is currently trading at $3,704. Despite this rise, it is still 24.29% off Ethereum’s all-time high of $4,891.70 recorded in November 2021.

According to Coinglass data, investors are increasing their bullish expectations for Ethereum. Ethereum futures open interest has been on an upward trend for more than a month. Total open interest, which surpassed $50 billion on July 17th, reached an all-time high of $52 billion today.

Total open interest currently stands at 14.31 million ETH, representing approximately $52.14 billion and representing a 0.74% increase over the past 24 hours. The rankings by exchange are as follows:

• Binance: Leading with $9.33 billion in open interest.
• CME (Chicago Mercantile Exchange): Second with $6.81 billion.

During the same period, spot fund movements in the cryptocurrency market also attracted attention. According to Coinglass data, the cryptocurrencies with the highest net inflows are:

1. Litecoin (LTC): $29.83 million
2. Solana (SOL): $15.97 million
3. Bitcoin Cash (BCH): $7.59 million
4. Ethena (ENA): $6.28 million
5. BNB: $5.65 million

In contrast, the assets with the highest net outflows are as follows:

1. Bitcoin (BTC): $156 million
2. Dogecoin (DOGE): $40.28 million
3. Tezos (XTZ): $40.05 million
4. Ripple (XRP): $38.23 million
5. TRON (TRX): $23.54 million

*This is not investment advice.