In July, Ethereum’s futures monthly trading volume at CME reached an unprecedented level of $118 billion, marking an 82% increase from the previous month. Data from CoinGlass highlights a dramatic 75% surge in open interest, rising from $2.97 billion in June to $5.21 billion, boosting ETH coin’s price to over $4,300 by the weekend.
CME and Global Market Record Levels
The record-breaking trends at CME are mirrored globally as Ethereum 
$1,874 futures trading volume across all exchanges hit $2.12 trillion in July. This reflects a 38% monthly increase, surpassing the previous May 2021 record of $1.87 trillion by 13%. By August 9, the total open interest was nearing an all-time high of $36.3 billion.
Ethereum’s price exceeded $4,300 on a Saturday for the first time since December 2021. By Monday, it climbed to $4,350 but pulled back slightly later that day. Despite the fluctuation, current levels are only 14% below the all-time high of $4,878 set in November 2021.
Rising Investor Interest Coupled with Funding Rates
Another significant factor in the markets is that funding rates are not at the extreme levels seen in December 2024, indicating that despite increased trading volumes, there’s no excessive leverage usage. Additionally, Google search data shows rising interest in Ethereum. By mid-month, “Ethereum” search volumes reached their peak since June 2022.
Data from CryptoAppsy reveals that ETH coin was trading at $4,303, up by 0.78% within the last 24 hours. The data shows significant growth, with prices rising 18.64% in the last week and 45.5% over the past 30 days.
