337 million dollars of leverage gone in five days: where does Ether stand now?

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Ether trades at $2,533.59 on Tuesday morning after the $2,495 level gave way. In the derivatives market, $337 million of open interest has disappeared in five days.Ether traded at $2,533.59 on Tuesday morning, 1.47 percent below its level of 24 hours earlier and 6.39 percent below where it stood a week ago. The more interesting number sits in the derivatives market rather than in the price: open interest in Ethereum contracts on the OKX exchange has fallen from $2.113 billion to $1.776 billion since October 7. That is $337 million, or almost 16 percent less leverage in five days. If you hold ETH, read the two numbers together, because a market without leverage falls more slowly and rises more slowly as well. Ethereum price today: $2,533.59 after the low at $2,411 The range of the past 24 hours runs from $2,411.24 to $2,575.42 according to CoinGecko data. That is $164 between high and low, a good 6.4 percent of the range measured against the low. The current level of $2,533.59 si...