Ethereum leverage surges to 75% on Binance; Here’s what it means
Leveraged positions in Ethereum (ETH) on Binance have surged to a new all-time high (ATH) this week, coinciding with the altcoin climb to a six-week high. As of March 20, more than 75% of all Ethereum positions on Binance are leveraged, according to data from on-chain analytics platform CryptoQuant. The platform’s Estimated Leverage Ratio (ELR), which compares total Open Interest (OI) to the amount of ETH held in exchange wallets, suggests that for every 1 ETH held on Binance, traders have opened leveraged positions equivalent to roughly 3 ETH. ETH estimated leverage ratio on Binance
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