337 million dollars of leverage gone in five days: where does Ether stand now?

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.