Key Takeaways:
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High network activity and a record stablecoin supply signal strong demand.
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Traders expect ETH to rally at all times high times of $ 4,000 are broken.
Ether (Eth) Price -reclaimed the $ 3,800 level after dropping to $ 3,700 during the first time of Asian trading on Tuesday. Market analysts are directed at major data metrics suggesting that “ETH is ready to explode” on new all-time highs.
Ethereum open interest in Record Highs
Ether futures Open interest (IO) Press a record of $ 58 billion on Tuesday, indicating an increase in market participation and new currency flowing into contracts with ETH futures.
The combined OI in Ether Futures has been more than double from June 22, up to 10% in the past two days. For the context, three months before, on April 29, the OI of Ether was $ 20.75 billion when the price went around $ 1,800. In addition, when Ether exchanged nearly $ 4,000 in December 2024, the interest of Eth Futures was only $ 31.5 billion.
Related: Evolving Eth Futures Data indicates a potential rally at $ 5K
This measure only hit new record highs, suggesting an increase in demand for leveraged positions in ETH.
“Open interest only hits a new all-time high. Price is climbing. The rush is stacked,” Says Crypto Merlijn’s businessman in response, adding:
“It’s not a normal breakout. It’s fuel for a vertical move. If you’re waiting for confirmation, this is the confirmation.”
Eth Oi Dominance “also climbed nearly 40%,” the highest in two years, glassnode write In part in a post on Tuesday at X.
“It marks a clear transition to the speculation -focus, with capital rotating from $ btcto $ eth in the margin.”
#Ethereum Open interest dominance has risen to nearly 40%, the highest level since April 2023. Only 5% of days have seen a higher reading. It marks a clear move to the imagination -Ocake, with the capital spinning $ Btc In $ Eth In the margin. pic.twitter.com/ynkle9gjkt
– Glass Node (@glassnode) July 29, 2025
Network activity is “by roof”
Ethereum network activity continues to show strength, with active addresses rising by 7.2% in the last 30 days, according to Nansen Data. The average monthly transaction number also increased by 16% during the same period to 43.3 million.
Dex’s weekly volume also hits a 4-month-old $ 22.6 billion, according to Defilma, while the app’s weekly income hits a 6-month high of $ 89.8 million.
Stablecoin supply also reached An entire time of $ 132.5 billion on Tuesday, the sign of increased liquidity and demand.
“The Ethereum network activity passes through the roof,” Says Famous analyst Elja in response to this onchain metrics, adding:
“It means $ eth new ATH is just an hour.”
Analysts look forward to Ether’s “Extended Rally”
Data from Cointelegraph Markets Pro and Tradingview Showing ETH trade around $ 3,800, up to 6% in the last seven days.
As cointelegraph reportedDestruction of $ 4,000 is key to the upside-up ETH potential and sets the stage for a possible rally on new all-time highs.
“$ Eth slowly -creeping up to high cycles,” trading of road crypto Says In his latest ether reviews in X.
The businessman has referred to the $ 4,000 objection, which has declined the price several times since February 2024.
Trading in Crypto explains that it will be “healthy” for ETH combinations -combined below this level before it breaks, as the rally is sudden.
“That way, it provides more room for a bigger foot afterwards. But either way, keep an eye on that $ 4K- $ 4.1k region.”
According to To market analysts bitcoinsensus, the ETH “ready to explode upside down” as it shows strength for a breakout, above a multi-year trendline.
“With ample momentum, breakout can lead to higher prices for Ethereum at the upcoming phase of this cycle,” they added.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
