Ether price fluctuation: Ether price rose 15% from November 20 to 27, reaching 3,500 USD. This is the highest price in four months. This price rally coincides with Ether futures open interest hitting a record level, leading to questions about possible optimism in the market.

Futures contract growth: In the 30 days leading up to November 27, the total number of Ether futures contracts increased by 23%, reaching 22 billion USD. Quick settlements for Ether indicate drastic changes from the previous situation when this figure was 31.2 billion USD for Bitcoin on August 27. This increase is mainly due to the involvement of large organizations.

Leverage strategy: Major exchanges such as Binance, Bybit, and OKX account for 60% of the Ether futures demand. CME holds 2.5 billion USD, showing increasing institutional investment. However, high leverage usage may lead to risks, especially from retail traders.

Strength of organizational strategy: The increase in open interest in Ether is primarily due to organizational strategies, not just personal excitement. Organizations often apply risk-hedging strategies in high leverage environments, avoiding being impacted by price volatility.