Ethereum Open Interest on Binance Exceeds $10B as Short Positions Surge

• Binance ETH open interest hits $10.75B amid 500% short position surge since Nov 2024.
• Pectra upgrade boosts staking, cuts Layer-2 fees by 90%, and limits ETH liquid supply.
• ETFs, whale buys, and pro-crypto laws drive institutional Ethereum market participation.

Futures activity for Ethereum on Binance has hit a record high, with open interest climbing to approximately $10.75 billion in August. This comes as the number of short positions across the market has skyrocketed 500% since November 2024, creating a powder keg for a potential short squeeze.

Binance's Ethereum Open Interest at $10B, Short Squeeze Ahead?

“Binance’s Ethereum open interest is above $10 billion, and market-wide short positions have surged 500% since November 2024, with a 40% increase in the past week.” – By @oinonen_t pic.twitter.com/349BVdWF6Z

— CryptoQuant.com (@cryptoquant_com) August 12, 2025

Data shows that Ethereum’s open interest on Binance has been growing since late May 2025, tracking alongside a powerful rally in the spot price from near $1,800 to above $4,200, a gain of over 130% in under three months. The recent peak in open interest occurred as Ethereum approached …

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