Ethereum loses 2 billion dollars of open interest in seven days
Cointribune·60-word summary·1 min read
Ethereum's open interest in derivatives markets dropped by over 2 billion dollars in seven days, indicating significant trader sentiment decline. The sharp decrease suggests potential capitulation or a consolidation phase, with some signals hinting at a possible rebound. The market's recent downturn reflects increased closed positions and cautious trading activity, raising questions about future price movements.
Peter Thiel-backed Ramp has introduced support for Ethereum, Solana, and Plasma-issued USDT tokens across its platform. This expansion allows users to convert between USDT and dollars seamlessly, enhancing liquidity and usability for DeFi and crypto traders. The move aims to strengthen stablecoin integrations and facilitate broader adoption of digital assets in financial services.
Ethereum is trading at $2,307, up 0.17% in 24 hours, with trading volume dropping nearly 19.5% below $16 billion. Despite the slight price increase, on-chain data indicates weak demand, raising concerns about the sustainability of the current recovery. The market remains cautious as ETH attempts to rebound from recent lows.
USDT is now live on Solana, Plasma, and Ethereum, offering seamless 1:1 USD onramps and offramps through Privy and Ramp. This expansion enhances stablecoin access and facilitates global money movement across these blockchain networks, providing users with more flexible and efficient options for USD conversion and transfer. The rollout aims to improve liquidity and usability in the Web3 ecosystem.
Optimism, a layer-2 Ethereum scaling solution, announced plans to enhance its privacy features, marking a significant development for enterprise adoption on Ethereum. The company aims to expand its privacy offerings to other blockchains, signaling a broader push for privacy-focused solutions in the Web3 ecosystem. The move is seen as a turning point for enterprise use cases on Ethereum.
Bitmine purchased 101,627 Ethereum worth over $230 million in its largest weekly accumulation of 2026. This significant buy highlights the company's growing confidence in the Ethereum network. The acquisition took place in April 2026, marking a major move in institutional Ethereum holdings this year. The purchase underscores ongoing institutional interest in Ethereum's long-term potential.
BitMine’s Ethereum treasury approaches 5 million tokens, contributing to its total holdings reaching $12.9 billion as of April 2026. The company’s crypto and cash assets have grown significantly, reflecting its expanding position in the Ethereum ecosystem. This milestone highlights BitMine’s substantial investment in ETH, emphasizing its strong presence in the crypto market.
