Ether Open Interest Rises 5.91% as Bitcoin's Stands at $7.74 Billion

Ether open interest rose 5.91% over 24 hours to $5.76 billion in a snapshot taken at 6:01 p.m. ET Nov. 4 (23:01 UTC), the largest gain among five assets.

Open interest measures the value of outstanding derivatives contracts. Funding rates are periodic payments between traders holding opposing positions in perpetual futures; positive funding means long-position holders pay short-position holders. The Oct. 9 five-asset derivatives snapshot showed open interest falling across all five assets.

Bitcoin (BTC) open interest stood at $7.74 billion, up 0.57% over 24 hours, with a mark price of $80,506. Its funding rate was 0.0029% every eight hours, or 3.2% annualized. Long accounts made up 58.1%, compared with 41.9% short.

Ether (ETH) had a mark price of $2,429. Its funding rate was -0.0014% every eight hours, or -1.5% annualized. Long accounts represented 65.0%, while short accounts made up 35.0%.

Solana (SOL), XRP and Dogecoin (DOGE) each had a funding rate of 0.0100% every eight hours, or 10.9% annualized. Solana open interest rose 0.96% to $879.3 million, and its mark price was $95.73; long accounts were 74.7% and short accounts were 25.3%.

XRP open interest increased 2.15% to $449.6 million, with a mark price of $1.31. Long accounts made up 71.1%, compared with 28.9% short. Dogecoin was the only asset among the five with a decline in open interest, falling 3.59% to $195.3 million; its mark price was $0.0773, and its accounts were 72.4% long and 27.6% short.