Can Ethereum’s ‘multi-year high’ push ETH above $4K after price crash?

Its Funding Rate across exchanges remained positive.Futures Open Interest climbed to an all-time high as the uncertainty around the potential approval of a spot Ether exchange-traded fund in the U.S. deepened.

data, ETH’s Futures Open Interest totaled $14.53 billion on the 1st of April, having risen by 86% year-to-date.Source: CoinglassETH’s Futures market recorded significant success in March, on-chain data has revealed., ETH Futures’ monthly trading volume across the largest cryptocurrency exchanges touched a three-year during the 31-day period.

With over 120,000 active users spread across 60 countries, CME is one of the world’s largest derivatives marketplaces. AMBCrypto found that during the 31-day period, the aggregated monthly trading volumes of CME Ethereum Futures totaled $30 billion. The last time it was this high was in November 2021.ETH’s price has faced significant headwinds in the last month as it continued to face resistance at the $3500 level at press time.

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