Ethereum (ETH) futures open interest has reached a new all-time high of $23 billion, signaling a surge in investor interest in the cryptocurrency. Analysts are predicting that this increase in open interest could lead to significant market movements, with one analyst suggesting that we could see “heavy fireworks” in the near future. This spike in open interest indicates that more traders are actively participating in the Ethereum futures market, which could lead to increased volatility and price fluctuations. Investors should closely monitor these developments to stay informed about potential market movements.