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

Odaily Planet Daily News Darkfost posted on X platform, stating that Binance's Ethereum perpetual contract open interest has hit a new all-time high in terms of ETH count, approaching 3.7 million ETH. At the same time, Binance's share of total Ethereum open interest has risen to over 44%. This data comes after the current price of ETH has fallen approximately 67% from its historical high, entering an extremely oversold zone.

Darkfost stated that despite increased market uncertainty and a deteriorating economic outlook due to the geopolitical tensions between the US and Iran, some traders have chosen to increase their risk exposure in the derivatives market. Binance's active buyer/seller ratio weekly average has risen from 0.95 to 1.0, indicating that after months of seller dominance, capital flows are rebalancing, and more investors are willing to take risks to rebuild long positions.