The ETH Spot/Futures Trading Volume Ratio on Binance has dropped to its lowest level since 2023

BlockBeats News, March 16th, according to crypto analyst Darkfost, the open interest of ETH contracts on the Binance platform has significantly decreased, with the position size decreasing by about 400,000 ETH since January.

Meanwhile, the ratio of ETH's spot trading to futures trading on Binance has dropped to the lowest level since 2023, which was the year the bear market ended.

Nevertheless, the current Ethereum futures trading volume on Binance is still more than six times the spot trading volume. This reflects the true weakness of the Ethereum spot market at present, with even the Ethereum Foundation and Vitalik Buterin's selling behavior potentially causing investor caution.