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According to CoinWorld news, on August 5th (UTC+8), Ethereum quickly rebounded by 5% after the start of the new week, with the price breaking through $3700, leading to the liquidation of short positions worth over $20 million. The open contract volume of Ethereum on the exchange also reached a historical high of $8.7 billion, indicating strong speculative interest in the current rebound market. (Source: MLion)