Ether Futures Open Interest Hits Record Amid Price Decline
- Ether’s futures open interest on Binance reached a record of nearly 3.7 million ETH, accounting for over 44% of total Ether futures.
- The average taker buy-sell ratio on Binance increased to 1.0, indicating a more balanced market after months of selling pressure.
- Perpetual futures volume was approximately 5.57 million ETH compared to about 290,000 ETH in spot trading, showing faster growth in leveraged participation.
- Binance saw a significant increase in open interest by about 616,400 ETH over the past month, its highest since 2019.
- Liquidation heatmaps indicate nearly $8 billion in short positions clustered between $2,200 and $2,400.
Despite a decline of approximately Ethereum price by around 44%, traders are increasing their leveraged long positions as open interest rises significantly on exchanges like Binance. This trend reflects an improving risk appetite among traders amid ongoing market uncertainties.
With $1.72 billion in cumulative long liquidations below the current price of $1,500 and nearly $1.90 billion in short liquidation exposure near $1,800, both sides face substantial liquidation risks as the market evolves.(Source)
