According to data from Coinglass, Ethereum (ETH) total open interest across all exchanges contracted by 5.06% in the past 24 hours, now at $26.503 billion. Open interest, a key metric of outstanding derivative contracts, tracks capital flows—a decline typically means traders are closing out or reducing leveraged bets.
Exchange Distribution
Binance leads with $5.828 billion, roughly 22% of the network total. Gate follows with $3.672 billion (13.8%), Bybit at $1.769 billion (6.7%), and OKX at $1.628 billion (6.1%). All platforms showed a decline, underscoring a broad-based drop in leverage.
The Coinglass snapshot, taken on June 5, shows the daily change is within typical volatility, though market watchers should assess it alongside price trends and other data.
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