Binance ETH Perpetual Futures Volume Hits Record High

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

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Surge in Futures Volume: Binance's ETH perpetual futures volume has reached approximately 5.57 million units, while spot market volume stands at just 290,000 units, pushing the Perp-Spot Imbalance ratio to nearly an all-time high of 0.90, indicating a growing preference for leveraged trading in the market.
Record Open Interest: Binance's ETH open interest has hit a new all-time high of 3.7 million ETH, capturing 44% of the market share, suggesting that market participants are increasing leverage even as prices hover around $1,650, potentially reflecting expectations for a price recovery.
Shift in Buy/Sell Ratio: The Taker Buy/Sell Ratio on Binance has risen from 0.95 to 1.16, indicating that buy-side flow has now outpaced selling pressure, with traders actively opening long positions at these multi-year lows, suggesting a bullish sentiment that could set the stage for a rebound.
Market Risks and Opportunities: While the increase in futures volume and open interest signals structural fragility in the market, the improvement in the buy/sell ratio may indicate an accumulation opportunity, with future price movements hinging on whether spot market demand can keep pace with changes in the derivatives market.

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Technical Analysis for ETH

Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ethereum (ETH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1242.647	1374.163	1511.957	1643.473	1781.267	1912.783	2050.577
Fibonacci	1374.163	1477.04	1540.597	1643.473	1746.35	1809.907	1912.783

About ETH

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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