Glassnode data reveals Ethereum's record futures open interest and a spot price surge above $4700, with restored leverage driving market volatility.
Glassnode data indicates that Ethereum's futures open interest reached an all-time high of approximately $35.5 billion as its spot price surpassed $4700. The report also highlights a $66 million short liquidation event on August 12 when prices neared $4620, suggesting heightened market volatility driven by restored leverage levels.