Ethereum Bottom Bet Grows As Binance Futures Reach New Record

Ethereum (ETH) futures positioning on Binance has climbed to a record in ETH terms as traders return after a sharp sell-off.

Key Points:

Binance Ethereum open interest reached nearly 3.7 million ETH, according to CryptoQuant analyst Darkfost.

The exchange now accounts for more than 44% of total Ethereum open interest.

The shift suggests traders are rebuilding exposure, but high leverage can increase risk in both directions.

Ethereum Futures

CryptoQuant analyst Darkfost said Binance recorded a new all-time high in Ethereum open interest measured in ETH, with nearly 3.7 million ETH positioned in futures contracts.

The increase came as Ethereum traded about 67% below its previous all-time high, after moving into what the analyst described as “an area of extreme oversold conditions.”

Darkfost said some traders had “not overlooked this opportunity” and increased exposure despite wider market risks.

The measure matters because dollar-denominated open interest can look weaker after a major price decline, even when traders are carrying more contracts in ETH terms. Binance’s share of total Ethereum open interest also rose above 44%, strengthening its role in the ETH derivatives market.

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ETH Traders

Darkfost said Ethereum flows are no longer dominated as heavily by sellers, with Binance’s weekly average Taker Buy/Sell Ratio rising from 0.95 to 1.0.

That move does not confirm a bullish reversal. It shows a return toward balance after months in which sellers had more control over futures activity.

The setup remains fragile because rising open interest can magnify price moves.

If buyers are using leverage near current levels, another failed rebound could trigger forced selling.

Ethereum traded at $1,644 at press time. The latest positioning follows months of weaker sentiment, sharp devaluation and repeated attempts by traders to identify whether the market has finally reached a durable floor.

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