Ethereum, the second-largest cryptocurrency by market capitalization, is once again approaching the $2,000 price threshold. It is currently trading at $1,981.32, representing a 5.7% increase in price and a 24-hour trading volume of more than $10 billion. The current memecoin season, which is taking place on the Ethereum mainnet, is causing fuel fees to grow, resulting in more ETH being burned.
Open interest (OI) in ETH is also increasing significantly, with Binance holding the most with 1.27 million, accounting for 37.19% of total open interest. This growth in OI indicates that an increasing number of investors are speculating on Ethereum’s future price swings, adding to the current market’s positive sentiment.
Ethereum (ETH) Approaching $2,000 Mark Yet Again
