Glassnode: The proportion of open interest in Ethereum perpetual contracts reaches a two-year high

According to Glassnode data, the proportion of open interest in Ethereum perpetual contracts has climbed to nearly 40%, reaching its highest level since April 2023, according to Golden Finance. This data has only seen higher readings on 5% of trading days in history. From the chart, it can be seen that the price of Bitcoin has been on an overall upward trend since March 2022, but funds are gradually shifting from Bitcoin to the Ethereum market, indicating a significant shift in market speculation focus.