Huo Xing Finance reports, according to Cointelegraph, following a recent rebound, Ethereum’s price has stabilized above $2,300, with ETH futures open interest rising to $25.4 billion, indicating increased demand for leveraged positions. Meanwhile, U.S.-listed spot Ethereum ETFs have seen net inflows of $248 million over the past 10 days, and Bitmine Immersion has also disclosed purchases of $312 million worth of ETH. However, ETH perpetual contract funding rates have failed to sustain levels above 5% and have repeatedly dipped below zero, reflecting limited market confidence in this rally. Additionally, Ethereum’s weekly DApp revenue has declined from $24 million in early February to $11 million, suggesting weakening network activity and intensifying competition among public blockchains may continue to impact ETH’s price movement.
ETH open interest rises to $25.4B amid ETF inflows and institutional buying
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Summary
Ethereum’s open interest rose to $25.4 billion as ETH rebounded above $2,300. ETF inflows added $248 million to U.S.-listed Ethereum spot funds over 10 days. Bitmine Immersion purchased $312 million in ETH. Perpetual funding rates remain mixed, occasionally dipping below zero. DApp revenue declined to $11 million weekly, down from $24 million in early February.
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