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ETH futures open interest nears record high amid heavy leverage and Binance dominance

Market News
05 Apr 2026
Blockonomi
View Source
Neutral
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Ethereum's open interest in futures contracts has climbed to 6.4 million ETH, approaching the all-time high of 7.8 million ETH set in July 2025. Binance controls about 36% of this market with 2.3 million ETH in open interest, giving it significant influence over price movements. The spot-to-futures volume ratio on Binance has dropped to a record low of 0.13, indicating heavy leverage and speculation dominating trading activity. This leverage heightens volatility risks, as large position liquidations could trigger rapid price swings, making risk management crucial for traders.

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