Ethereum Surpasses Bitcoin in Futures Open Interest as Glamsterdam Upgrade Nears
The Ethereum Foundation has confirmed that the Glamsterdam upgrade will activate on the Sepolia testnet at epoch 353,024 on October 6 at around 13:53 UTC. This upgrade combines the Amsterdam execution layer upgrade with the Gloas consensus layer upgrade and brings major changes such as proposer-builder separation (ePBS) and block-level access lists (BALs). These changes will increase the network's throughput, improve validation efficiency, and provide a cleaner block production market.
The Ethereum Foundation is targeting to make the Layer 1 blockchain network quantum-resistant across execution, consensus, and data layers by 2029. The Glamsterdam upgrade is one of the largest L1 scaling upgrades since the Merge, and it will set the stage for the Hegota upgrade. Meanwhile, Vitalik Buterin remains optimistic about blockchain cybersecurity, rejecting claims that AI hacking can crash Bitcoin and Ethereum networks.
In other news, Ethereum has surpassed Bitcoin in perpetual futures open interest on Hyperliquid over the last 24 hours. ETH open interest near $3.12 billion rose more than 2.5% in 24 hours, while BTC open interest climbed 1.6% to $2.81 billion. This comes as investors are rotating to ETH amid factors such as spot Ethereum ETF inflows and bullish price predictions by analysts.