All-Time High: Binance Ethereum Perpetual Contract Open Interest Approaches 3.7 Million ETH

Odaily reported that Darkfost posted on X platform, stating that the open interest of Ethereum perpetual contracts on Binance, calculated in ETH, has reached an all-time high, approaching 3.7 million ETH. Meanwhile, Binance's share of the total Ethereum open interest has risen to over 44%. This data comes after ETH's current price has fallen approximately 67% from its all-time high, entering a deeply oversold zone.

Darkfost stated that despite the increased market uncertainty and worsening economic outlook caused by the US-Iran geopolitical tensions, some traders have chosen to increase risk exposure in the derivatives market. The weekly average taker buy/sell ratio on Binance has risen from 0.95 to 1.0, indicating that after months of seller dominance, capital flows are rebalancing, with more investors willing to take risks to rebuild long positions.