ETH Climbs Past $4,200 Amid Rising Open Interest and Demand

• Open interest and price growth align, signaling controlled market strength.
• Co-founder’s $41M ETH transfer sparks speculation on potential motives.
• Investor-controlled Ethereum supply exceeds 40 million ETH, boosting confidence.

Ethereum is showing strong market performance as prices continue to climb. During the highlighted period, Ethereum’s price increased by $545, or 14.88%, reaching around $4,209. Data shows OI rose by 781,485 ETH, a 16.04% gain. 

Analysts note that OI is not outpacing price growth, which often signals controlled market conditions. Funding rates have also moved higher, reflecting stronger bullish positioning. 

This increase in funding rates is typical after rapid rallies near cycle highs. Data from Binance Futures shows no immediate warning signs, suggesting market momentum remains steady. 

At press time, Ethereum is trading at $4,251.43, up 5.23% in the past 24 hours. 

Co-Founder Transfers $41.3M to Exchange.

Reports indicate that an Ethereum co-founder has started selling a substantial portion of his holdings. In May, the individual purchased 44,482 ETH. Blockchain records show a recent transfer of $41.3 million in ETH to Kraken. 

Analysts interpreted the move as a potential large-scale sale. Sales by early project insiders often prompt speculation over possible internal knowledge or broader strategic shifts. The motive behind this sale remains unknown, but the transaction has drawn attention among traders. 

Renewed Demand from New and Existing Investors

Fresh demand for Ethereum is increasing, with more participation from both new and existing investors. Glassnode data shows a sharp rise in first-time buyers and momentum buyers since early August. 

These groups have pushed the ETH supply they hold to multi-week highs. Investor-controlled supply has now exceeded 40 million ETH. 

The data suggests a strong buying appetite and renewed confidence in the asset. The upward price trajectory, combined with increased accumulation, reflects a shift toward bullish sentiment. 

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.