- Binance added $3.8B and $2.5B in open interest during Bitcoin’s November 2024 and May 2025 rallies past the $100K mark.
- Ethereum’s price jumps of 73% and 44% saw Binance lead in open interest growth, reaching a 31% market share.
- On June 21, Binance recorded a $2.1B OI drop as traders quickly exited long positions amid geopolitical tensions in the Middle East.
Binance continues to lead the crypto derivatives market, showing the largest open interest growth during Bitcoin and Ethereum price surges.
Bitcoin Open Interest Spikes During All-Time Highs
Binance recorded substantial increases in Bitcoin open interest (OI) as the asset surpassed $100,000 in both November 2024 and May 2025. According to CryptoQuant, these rallies triggered a $3.8 billion and $2.5 billion jump in OI respectively. The data suggests that traders heavily favored Binance to gain quick Bitcoin exposure during bullish movements.
As of writing, Binance holds 30% of the total Bitcoin OI share, equating to $9.8 billion. This marks a rise from $4.2 billion at the beginning of 2024. Other exchanges with high Bitcoin OI include Bybit ($6.8 billion), Gate.io ($6.5 billion), HTX ($4.1 billion), and OKX ($3.1 billion). The consistent OI growth on Binance reflects trader confidence in its execution speed, fee structure, and liquidity.
Ethereum Rallies See Binance OI Expand Rapidly
Binance also leads Ethereum perpetual futures in open interest among all exchanges. As Ethereum rallied 73% and 44% during the same periods as Bitcoin, Binance posted the fastest OI growth. The platform’s Ethereum OI now stands at $5.1 billion, representing 31% of the total ETH market share.
This data points to strong trader preference for Binance when Ethereum volatility rises. The exchange’s infrastructure appears to handle demand efficiently, making it the go-to platform during uptrends. As with Bitcoin, Binance’s performance in Ethereum markets emphasizes its central role in the derivatives ecosystem.
Volatile Events See Traders Close Positions Rapidly on Binance
On June 21, a sharp drop in Bitcoin prices occurred following heightened geopolitical tensions in the Middle East. Binance saw the steepest OI decrease, losing $2.1 billion in a single day. This reflects traders actively closing long positions to manage risk and exposure.
CryptoQuant noted in a tweet that price surges or volatility tend to send traders directly to Binance. The exchange’s quick OI changes underline its position as a preferred venue for swift action during market events. Binance’s high OI reflects deep liquidity and market trust among large-scale participants.
