Odaily reported that Darkfost posted on X that open interest in Ether perpetual contracts on Binance has reached an all-time high when calculated in ETH terms, approaching 3.7 million ETH. At the same time, Binance’s share of total Ether open interest has climbed above 44%, indicating a larger concentration of Ether derivatives open interest on the exchange.
Derivative exposure rises after ETH’s sharp decline
According to Darkfost, the data comes after ETH’s current price has fallen about 67% from its all-time high and entered an extremely oversold zone. The post also noted that geopolitical tensions between the United States and Iran have increased market uncertainty and that the economic outlook has continued to deteriorate. Even under those conditions, some traders have chosen to increase risk exposure in the derivatives market.
On Binance, the weekly average of the active buyer/seller ratio has risen from 0.95 to 1.0. Darkfost said this shows that, after several months dominated by sellers, capital flows are rebalancing, with more investors willing to take on risk and rebuild long positions.