Ethereum Futures Volume on Binance Peaks at $21.7 Billion Since December

Ethereum Price and Futures Activity Update

  • Ethereum (ETH) has struggled to maintain an upward trend, reaching $3,300 but failing to surpass $3,400.
  • The current market structure appears short-term bearish, yet on-chain analysis suggests potential for a significant move soon.

Ethereum Futures Market Activity

  • According to CryptoQuant's Arab Chain, Ethereum futures trading on Binance reached a monthly high, with daily volume hitting $21.7 billion.
  • This increase marks the highest level since mid-December, indicating renewed momentum in the futures market.

Ethereum

  • The spike follows a period of low activity and price stability, suggesting traders are preparing for a possible market shift.
  • Increased futures volume often correlates with higher leverage and speculative activities, hinting at potential market movement.

Current ETH Price

  • Ethereum is currently priced at $3,292, showing no significant change from the previous day.

Ethereum