Markets· ★★★· neutral·

CryptoQuant: Binance ETH futures market structure improves after $345M long flush

  • —Binance long liquidations rose 47% while funding rates dropped to near zero
  • —Binance ETH futures open interest fell 4.7% over 30 days to about $6.1 billion
  • —Binance's share of ETH futures open interest climbed to 49%, the highest since 2023
  • —USDT reserves on Binance fell 2.3%, a net outflow of roughly $175 million
Why it matters: The risk of another liquidation cascade is lower than in September, but without USDT inflows and a rising Coinbase Premium a sustained ETH recovery is unlikely.
#ETH#USDT
Source: Crypto Briefing
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