Ethereum Price Holds Steady Near $2,500 Amid Derivatives Weakness

Ethereum's price has been steady near $2,500 as derivatives markets show weakness and spot markets exhibit mild buying dominance.

Since July 1, open interest in Ethereum futures has declined by approximately 1 million ETH, while the total value of unsettled contracts has jumped by 54% to $33.7 billion in USD terms.

The low inflow of fresh capital and negative flashes in Net Taker Volume indicate weak conviction among long leveraged traders.