Ethereum is back in the spotlight as its Open Interest (OI) on Binance hits an all-time high. Currently, ETH OI has reached $8.7 billion — signaling a surge in speculative positioning on the exchange.
What makes this even more notable is the comparison to the 2021 bull run. Back then, ETH was trading at a similar price level, but Open Interest only peaked around $2.5 billion. Today’s figure is nearly 3.5 times higher, showing just how much leverage and speculation have grown in the Ethereum market.
Looking at the funding rates, we still don’t see any major shifts — they remain neutral. This suggests that the market hasn’t overly committed in one direction yet, meaning there’s still room for positions to build.
Given the broader uptrend in the crypto market, this data supports the view that Ethereum’s upward momentum is likely to continue — potentially with even stronger and more volatile price action.
In short, Binance traders are showing growing interest in Ethereum without an aggressive directional bias in funding. This quiet buildup of leverage may be setting the stage for an intensified continuation of the current bullish move.
Written by BorisVest
