Ethereum perpetual contract open interest on Binance hit approximately 3.7 million ETH on June 11, a new all-time high for the exchange.
The figure, flagged by CryptoQuant analyst Darkfost, means Binance now accounts for more than 44% of total Ethereum open interest across all exchanges. In plain English: nearly half of all outstanding Ethereum derivative bets in the world are sitting on a single platform.
What the numbers actually tell us
Open interest measures the total number of outstanding derivative contracts that haven’t been settled. When it rises, it means new money is entering the market, not just existing positions being shuffled around.
Ethereum is currently trading roughly 67% below its all-time high.
