Ethereum: 16 percent less leverage in five days

Ether traded at $2,533.59 on Tuesday morning, 1.47 percent below its level of 24 hours earlier and 6.39 percent below where it stood a week ago. The more interesting number sits in the derivatives market rather than in the price: open interest in Ethereum contracts on the OKX exchange has fallen from $2.113 billion to $1.776 billion since October 7. That is $337 million, or almost 16 percent less leverage in five days. If you hold ETH, read the two numbers together, because a market without leverage falls more slowly and rises more slowly as well.

Ethereum price today: $2,533.59 after the low at $2,411

The range of the past 24 hours runs from $2,411.24 to $2,575.42 according to CoinGecko data. That is $164 between high and low, a good 6.4 percent of the range measured against the low. The current level of $2,533.59 sits above the midpoint of that range, which runs at $2,493. Ether worth $16.26 billion changed hands over the period.

Against the wider market, Ethereum stands out in neither direction. Bitcoin trades at $83,697 and has given up 2.31 percent in seven days, Solana stands at $108.59 and lost 9.73 percent over the same period. Ether sits between the two with a weekly loss of 6.39 percent. No coin-specific problem can be read from that.