PANews reported on June 11 that, according to CryptoQuant analyst Darkfost's post on the X platform, the open interest of Ethereum perpetual contracts on Binance (in ETH) has reached a record high, approaching 3.7 million ETH. Binance's share of total Ethereum open interest has also risen to over 44%. This data comes after ETH's current price has fallen by approximately 67% from its all-time high, entering extremely oversold territory.

Darkfost stated that despite increased market uncertainty due to geopolitical tensions between the US and Iran and a continued deterioration in the economic outlook, some traders are choosing to increase their risk exposure in the derivatives market. The weekly average active buy/sell ratio on Binance has risen from 0.95 to 1.0, indicating that after months of seller dominance, fund flows are rebalancing, with more investors willing to take risks to rebuild long positions.