Ethereum Leverage Ratio Is Rising, What Does It Mean?

Data shows the Ethereum leverage ratio has been going up recently, something that may lead to higher volatility for the asset’s price.
Ethereum Estimated Leverage Ratio Has Risen To 23% Now
As explained by an analyst in a CryptoQuant Quicktake post, the Ethereum leverage ratio is pointing at increased risk in the market. The “estimated leverage ratio” (ELR) refers to the ratio between the Ethereum open interest and derivative exchange reserve.
The former of these, the “op