emre yumlu 
The increased activity in Ethereum derivatives, decentralized applications, and stablecoins highlights growing investor interest and usage of the blockchain. Rising data disproves claims that “ETH is dead.”
Recent Data Disproves Claims That Ethereum is Dead
According to CoinGlass data, the total open interest in ETH’s perpetual and standard futures contracts has reached an all-time high of 6.32 million ETH (approximately $27 billion), marking a 17% increase since the beginning of the month.
This rise aligns with Bitcoin’s recent gains, pushing the ETH price up by 35% to $3,400.
Three-month ETH futures premiums are also on the rise. These premiums have reached an annual rate of 16% on platforms like Binance, OKX, and Deribit, while CME recorded 14%. Such high premiums have increased interest in cash and carry trades and accelerated inflows into spot ETH ETFs listed in the U.S.
In the Deribit options market, open interest reached $7.33 billion, marking the highest level since June. Active contracts surpassed 2 million, indicating a resurgence in market activity.
Ecosystem and Blockchain Data
The total value locked (TVL) in Ethereum’s decentralized applications has reached $65 billion for the first time since May 2022. Of this amount, $32 billion comes from the liquid staking platform Lido, with Aave at $26 billion and EigenLayer at $14 billion. These figures demonstrate the rapid growth of the Ethereum ecosystem and the trust investors have in it.
The Ethereum network has also regained its dominance in the stablecoin market, surpassing Tron for the first time since June 2022 and hosting $60.3 billion USDT. On-chain metrics such as revenue, transaction fees, and wallet creation continue to show steady growth month over month. This expansion reinforces Ethereum’s position not just as a store of value but as the primary platform for decentralized finance (DeFi) applications.
Additionally, Donald Trump’s presidential victory has revived bullish expectations for the DeFi ecosystem. His administration’s campaign promises to ease crypto regulations and grant more freedom to the industry could pave the way for rapid growth of DeFi platforms in the U.S. This political shift may drive increased demand for Ethereum and other major DeFi tokens, contributing to a broader market momentum.
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