Ethereum Sets All-Time Records Amidst Geopolitical Calm

Ethereum (ETH) has experienced a remarkable week, setting multiple all-time records that have sparked speculation about a potential price increase. One key metric is Ethereum's open interest, which surged by $2.2 billion after the US-Iran ceasefire announcement.

According to CryptoQuant data, this significant increase in open interest pushed it to levels not seen in approximately four weeks. The analysis also revealed that long positions dominated the futures landscape, indicating a shift towards bullish sentiment among market participants.