Why is Ethereum (ETH) price up today?

Ethereum price is up today after the biggest altcoin holds above a key support level as record open interest backs Ether’s upside.

Key takeaways:

Ether’s price rose over 5% to $2,520 on May 20, mirroring similar upward moves across the wider cryptocurrency market.

Ethereum’s record open interest, rising funding rates and a significant short squeeze fuel the rally.

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