ETH Experiences Significant Market Activity with Increased Leverage and Liquidations

According to Odaily, Michael Nadeau, founder of DeFi Report, shared insights on ETH market trends on X. He noted a 40% increase in open interest for ETH over the past few days, indicating a surge in leveraged long positions. Additionally, ETH's spot trading volume has jumped from $4-6 billion daily to $15-18 billion, suggesting substantial real capital inflow. The funding rate has risen from 0.005% to 0.03%, and short liquidations have exceeded $85 million in recent days. Overall, these factors point to a rise driven by real capital inflow, increased long positions, and a short squeeze.