Analysis: The number of open contracts on Ethereum on Binance has reached a historical high, approaching 3.7 million ETH According to CryptoQuant analyst Darkfost's post on X platform, the number of open contracts (calculated in ETH) for Ethereum perpetual contracts on Binance has reached a historical high of nearly 3.7 million ETH. At the same time, Binance's share of Ethereum's total open contracts has risen to over 44%. This data occurred after the current price of ETH fell about 67% from its historical high and entered an extremely oversold area. Darkfost stated that although the geopolitical tensions between the US and Iran have led to increased market uncertainty and a continued deterioration of the economic outlook, some traders have chosen to increase their risk exposure in the derivatives market. The weekly average active buyer/seller ratio on Binance has risen from 0.95 to 1.0, indicating that after months of seller dominance, capital flows are rebalancing and more and more investors are willing to take risks to rebuild long positions.