PANews reported on January 3 that according to CoinDesk, CryptoQuant data showed that Ethereum's leverage ratio rose to 0.57, a sharp increase from 0.37 at the beginning of the last quarter of 2024. At the same time, Bitcoin's leverage ratio was 0.269, the highest level since early 2023, but still far below the historical high of 0.36 set in October 2022.

The rising ratio indicates that traders are increasingly using leverage, indicating a surge in risk-taking and market speculation. Leverage allows traders to control larger positions in the market with a relatively small pool of capital. Ethereum's leverage ratio is over 0.5, which indicates that there is a large amount of leveraged trading in the futures market compared to the actual currency available in exchange wallets.