Ethereum Open Interest Hits $22B as $2,800 Breakout Looms

- Ethereum (ETH) open interest hits an all-time high. - Confidence grows with significant on-chain activity and holding patterns. On June 11, 2025, Cryptopolitan reported that Ethereum's open interest surged to a record $22 billion (7.17 million ETH). This surge signals bullish momentum as the price approaches $2,800. Nearly 69% of positions are long, which indicates strong market optimism about a potential price rally above the $2,800 resistance level. Additionally, significant on-chain activity supports this bullish sentiment. For instance, approximately 431,000 daily active addresses highlight active engagement within the Ethereum network. Furthermore, ETH whales are maintaining their holdings, a behavior that contributes to low exchange reserves, which currently stand at about 18.99 million ETH. While whales continue to accumulate ETH, retail investors are simultaneously participating actively in derivative markets, and this combined activity suggests a cautiously bullish sentiment among different types of investors. A significant queue of 9,863 potential validators waiting to stake their ETH further bolsters this optimism, particularly as only a small number of validators (352) are exiting. This low exit rate, in turn, reflects strong belief in the Ethereum network's future and its block reward prospects. Meanwhile, the Ethereum network continues to support highly active DeFi applications and decentralized exchanges (DEXs), where on-chain lending has expanded significantly, now exceeding $1 billion in liquidatable positions on DeFi protocols. According to CoinMarketCap, on June 11 at 16:09 UTC, Ethereum (ETH) was trading at $2,853.991, and its 24-hour trading volume showed a 4.191% change.