Aug 7, 2025
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Ethereum Price Drops 4% as Open Interest Reaches $77 Billion
Ethereum (ETH) has declined by 4% over the past week, trading at around $3,598, with a 1% decrease in the last 24 hours. This pullback follows mixed price action as traders balance optimism with risk management.
- Open Interest (OI) for Ethereum futures on Binance reached $77 billion, indicating increased market activity.
- This rise coincides with record daily transactions on the Ethereum network, linked to growth in decentralized finance (DeFi) and layer-2 solutions.
- High OI may signal potential volatility if market sentiment shifts.
- Negative Net Taker Volume of -$418.8 million suggests more ETH sold than bought, indicating seller dominance.
- Sustained negative Net Taker Volume could lead to further downside if buy-side demand is insufficient.
Ethereum remains below the $4,000 resistance level, reflecting a divergence between strong on-chain activity and price performance.
