Markets· ★★★· neutral·

CryptoQuant: Binance ETH open interest halves in USD but sits near peak in ETH terms

  • —Binance ETH open interest near $5.8B vs $12B+ at last year's peak
  • —In ETH terms, open interest is about 2.5 million ETH, near the peak
  • —Funding sits just above zero after several negative-rate stretches
  • —Rising price with a funding spike would signal crowded longs
Why it matters: ETH leverage remains large but not one-sided, so a decisive break in either direction could accelerate quickly.
#ETH
Source: PANews
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