In the last month, Ethereum’s OI on Binance surged from $3.6 billion to $5.1 billion, marking a significant 41.6% increase. Across all exchanges, total Ethereum OI currently sits at approximately $17 billion, with Binance commanding around 30% of that total.
This highlights Binance’s dominant role in the futures market.
The 41% surge in Ethereum OI on Binance strongly suggests that Ethereum’s recent price rise is backed by futures market activity, not just spot-driven speculation. This alignment between the derivatives and spot markets points toward a structurally sound rally.
As a result, ETH has climbed from $1,600 to around $2,650, a nearly 65% increase in just 30 days. More importantly, this rally appears to be underpinned by deeper liquidity and institutional-grade positioning, which are typical hallmarks of sustainable market trends.
Looking ahead, Ethereum’s strength might extend beyond just its own chart. Historically, when ETH leads, the altcoin market often follows. If Ethereum maintains this momentum, we may soon witness the beginning of a broader altcoin rally, led by ETH’s breakout.
Written by burakkesmeci
