Ether futures volume is roughly seven times spot activity with the spot-to-futures ratio at a record low of 0.13; open interest is nearing record highs while Binance controls about 36% of ETH derivatives.
CoinGlass data shows more than 11 trillion Shiba Inu tied up in derivatives over the last 24 hours as traders ramp up speculative positions. The jump in open interest points to renewed market attention and a higher risk of volatility.
Open interest in Bitcoin derivatives plunged after October’s shock and may not return to pre-crash levels until Q2 2026, market watchers say. A stronger macro backdrop could speed a recovery.