Binance’s ETH futures OI share hits 49%, highest since 2023

On-chain analyst Darkfost said on X that Binance’s share of Ethereum futures open interest has reached about 49%, the highest level since 2023. Since late September, ETH has fallen about 10% from $2,775 to $2,500, and Binance’s dollar-denominated open interest has declined by $600 million. However, open interest measured in ETH has recovered to about 2.46 million ETH, back to late-September levels. Darkfost said futures market participation has held up despite the price correction and large-scale long liquidations.