Ethereum open interest rose 2.3% in ETH on Binance as its dollar value fell 6.6%
Summary
From Oct. 6 to Oct. 8, Binance ETHUSDT futures open interest rose 2.27% in ETH while its USDT value fell 6.58%; BTCUSDT open interest declined 1.45% in BTC and 5.97% in USDT. Both contracts’ coin quantities contracted on Oct. 8 itself. The analysis attributes most of the value declines to lower implied coin valuations, while noting that this accounting split is a convention, not proof of economic causes. Funding rates for both contracts were positive at the latest Oct. 8 settlement. Broader weekly market data showed BTC and ETH aggregate open interest rising through Oct. 7, but covered a different period and market scope.
