Daily open interest of ether futures on Binance and Bybit has reached an all-time high, according to The Block's Data Dashboard.

Data indicate that among the top five derivatives exchanges, all except the Chicago Mercantile Exchange (CME) have broken all-time highs in terms of daily ether futures open interest. For instance, open interest on Binance has surged to a peak of over $3.30 billion, while on Bybit, it has reached $1.94 billion. 

According to one analyst, the notable increase suggests a growing confidence and participation in ether futures trading, reflecting ether's attractiveness to those traders lured by bigger payoff potentials in more volatile markets. "The large increase in open interest in ether futures shows the elevated interest from risk traders in leveraged …