Ether Eyes $1,500 Support After 25% Open-Interest Decline

Ether's futures market has seen open interest drop 25% to $12.6 billion from $16.6 billion in May, with Gate.io experiencing the largest fall — about 45% to $2.68 billion from $4.84 billion on May 7, matching levels from April 11, 2025. Bybit's ETH OI sits near $805 million, close to the $795 million recorded in early April 2025.

Binance, by contrast, has open interest near $2.76 billion while funding rates there have turned negative at roughly -0.0047, indicating short traders are paying a premium to hold positions. Exchange-held Ether balances across Binance, OKX, Gemini and Bitfinex fell by nearly 480,000 ETH over the past few days.

Binance reserves dropped to 3.65 million ETH from 3.87 million, Bitfinex to 2.50 million from 2.67 million, OKX from 424,000 ETH to about 336,000 ETH, and Gemini to roughly 522,000 ETH. Continued outflows could reduce readily available supply if buying demand recovers.

ether, ethereum, open interest, futures market, gate.io, bybit, binance, funding rates, exchange reserves, outflows