Binance's ETH contract position share rises to nearly 49%, hitting a new high since 2023.
2026.10.12 20:23:09
Crypto analyst Darkfost posted that despite Ethereum (ETH) recently pulling back from $2,775 to roughly $2,500, a nearly 10% drop, the notional value of Binance’s ETH futures open interest fell by about $600 million over the same period. However, when measured in ETH quantity, its open interest has rebounded to the level at the end of September, standing at around 2.46 million ETH. Between October 8 and 9, the market liquidated approximately $345 million worth of ETH long positions in a 24-hour window. Even so, Binance’s share of total ETH futures open interest across major centralized exchanges has climbed to nearly 49%, a new high since 2023. Darkfost noted that this means that despite ETH’s price correction and some leveraged positions being liquidated, the amount of ETH traders have deployed to Binance’s futures market has not decreased notably, further strengthening Binance’s dominance in the ETH derivatives market.
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