Ethereum's Binance Open Interest Surpasses Average, Signaling Gradual Rebuild

Ethereum's open interest on Binance has reached $5.5 billion, exceeding its 30-day average of $5.34 billion. According to CryptoQuant data, this represents a gradual rebuild of positions after a sharp decline in early 2026.

The Z-Score metric, which measures the norm of participation, has climbed above zero to nearly 0.62. This indicates that traders are quietly building new ETH positions, rather than closing existing ones.