Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Is Ethereum on the verge of collapse? Record open interest is alarming experts
In recent days, Ethereum (ETH) has demonstrated an impressive rise, but experienced traders are already sounding the alarm. The reason? The open interest in ETH futures has reached a historical maximum, and this often foreshadows a sharp fall in price.
On October 15, the price of Ethereum jumped by 8.8%, reaching $2,650. It seemed like a reason to rejoice. But not so fast! Literally the next day, the open interest on ETH futures surpassed the psychological milestone of 5 million ETH. This is an absolute record in the entire history of cryptocurrency.
Let's remember the recent past. On August 2 of this year, open interest in ETH reached a local peak of 4.75 million. What happened next? Right, a crash! In four days, the price of Ethereum plummeted by 31.7% — from $3,205 to $2,186.#ETH