Binance’s Ether Futures See Lowest Open Interest Since July 2022

Ether’s broad estimated leverage ratio, calculated by dividing the dollar value locked in the active open perpetual futures condenses by the total number of coins held by derivatives exchanges, has declined from a multi-month high of 0.28 to 0.22. Bitcoin’s correlation has slid from 0.27 to 0.21, the lowest since May, according to data tracked by South Korea-based analytics positive CryptoQuant.