Ethereum's $ETH  open interest has plunged ~50% since August 2025, indicating massive deleveraging by institutions and whales amid reduced speculative risk.

Meanwhile, Binance leads with $7.64B (31%), followed by Gate ($3.72B) and HTX ($3.12B), while the overall drop signals a more cautious, low-volatility environment. Historically, such sharp OI resets often precede major price moves—either deeper downside or a healthier reversal

ETHUSDT

Prep

2,956.85

-2.44%