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Despite being the second-largest cryptocurrency by market cap, Ethereum has fallen short of expectations during this bull cycle. Unlike Bitcoin and its rival altcoins, which have achieved impressive gains and reached fresh highs, ETH has been unable to reclaim its 2021 peak.by CryptoQuant, there has been a notable rise in Ethereum’s open interest , which hinted at a potential breakout as well as a possible bullish rally.
To top that, the elevated open interest also raises the probability of liquidation cascades, which could trigger abrupt and substantial price swings.
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