Glassnode: Ethereum Perpetual Futures Open Interest Ratio Hits Nearly Two-Year High

According to a report by Jinse Finance, Glassnode data shows that the open interest share of Ethereum perpetual contracts has climbed to nearly 40%, reaching its highest level since April 2023. Historically, higher readings have only occurred on 5% of trading days. The chart indicates that while Bitcoin prices have generally been on an upward trend since March 2022, capital is gradually shifting from the Bitcoin market to Ethereum, signaling a clear shift in market speculation focus.