All-time high: Binance Ethereum perpetual contract open interest approaches 3.7 million ETH

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

Darkfost stated that despite rising market uncertainty due to geopolitical tensions between the US and Iran, and a continuously worsening economic outlook, 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 a rebalancing of capital flows after months of sell-side dominance, with more and more investors willing to take on risk to rebuild long positions.