It’s been more than 2 weeks since Ethereum’s Merge happened. However, the hype that existed before the event died down soon, with the event followed by disinterest in the cryptocurrency. Glassnode recently confirmed this outcome after observing a sustained drop in ETH Open Interest in perpetual Futures contracts.
Here’s AMBCrypto’s Price Prediction for Ethereum [ETH] for 2023-24
The amount of ETH Open Interest in perpetual Futures contracts recently dropped to its lowest level in 4 weeks. This seemed to be a sign of dwindling demand from the derivatives market, one which usually reflects outcomes in the spot market.
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