👀 Momentary decrease in the use of derivatives in Ethereum 📉

Momentary-decrease-in-the-use-of-derivatives-in-Ethereum

Context:

The market currently seems to be dominated by derivatives.
In addition to this, during the last few months the leverage in Ethereum (ELR) has reached levels never seen before (The OI increases too). Investors were taking extra risks in their positions.
All this led Ethereum to increases in approximately 30% during the last month. Likewise, we could see from the Funding Rate that most speculators were long on Ethereum.

📍 The Important Part:
Currently, we are seeing leverage start to wane, same as the enthusiasm reflected in the funding. This could indicate that investors who were initially willing to take huge risks have already decided to gradually close their positions... It seems that the long pressure from derivatives is beginning to shrink.