Ethereum has rebounded strongly from its July 24 low of $3,530 and is now targeting the key resistance level of $4,000 amid growing trading activity.
Market data reveals a significant increase in investor interest, with 24-hour spot trading volume up 47.3% to $32.95 billion.
Derivatives markets are also heating up: open interest rose 7.72% to $59.94 billion, while derivatives volume surged 61.44% to $89.16 billion, indicating that traders are positioning for volatility.
Notably, open interest in Ethereum futures has reached a record high of $60 billion.
The rally coincides with renewed institutional accumulation, including SharpLink's latest purchase of 77,210 ETH (worth around $295 million).