Binance Dominates: Crushing Rivals in Bitcoin & Ethereum Futures Market
Binance isn't just leading the crypto futures race—it's lapping the competition. While legacy exchanges fumble with regulatory red tape, the king of crypto derivatives keeps stacking volume like Satoshi stacking sats.
Here's how they're winning:
- Liquidity moat: Tight spreads and deep order books keep traders hooked
- Product blitz: New perpetual contracts drop faster than Wall Street's crypto enthusiasm
- Zero-fee bait: Loss leader tactics that would make Amazon proud
Meanwhile, traditional finance giants still can't decide if crypto is 'digital gold' or 'a passing fad'—while Binance quietly eats their lunch. The future's decentralized, but today's profits are looking mighty centralized.
- Binance dominates the market by owning 30% of Bitcoin OI and 31% of Ethereum OI, with a value of $9.8 billion and $5.1 billion.
- Open interest on Binance surges when Bitcoin and Ethereum prices rise, highlighting traders’ growing dependence on the platform.
- Bybit and Gate.io show strong OI, but they still trail Binance’s dominant 30% share in Bitcoin and 31% share in Ethereum.
Binance is the most popular cryptocurrency marketplace, and it has a vast majority in both Bitcoin and Ethereum futures market share. CryptoQuant highlighted that the exchange has 30% of the total open interest in Bitcoin, with a value of $9.8 billion. In the case of Ethereum, the OI is dominated by Binance with 31%, amounting to $5.1 billion. These statistics cement the position of Binance.
The open interest of Binance increases dramatically when the price of Bitcoin and ethereum rise. In November 2024, the price of Bitcoin reached a new peak and exceeded $100,000. This resulted in a rapid expansion of the OI on Binance.
Likewise, the price of Ethereum experienced a 44% rise in May 2025 and a 55% jump in June 2025. This percentage was the highest when the OI in Binance increased, which shows the increasing dependency of traders on the platform to receive exposure to both of these cryptocurrencies.
Source: X
Binance Dominates Futures Market
By 2025, the exchange has seen its Ethereum OI grow to $5.1 billion, representing notable growth from the previously registered figure of $2.9 billion, as recorded in April 2025. Ethereum OI on the exchange hit $6.9 billion in June after the 55% price surge. This indicates that Ethereum trading on the exchange has experienced increased aggression, with the traders making aggressive purchases when the asset generates price volatility.
The closed open interest of other exchanges, including Bybit, Gate.io, HTX, and OKX, is still high in the other two markets but is still significantly lagging behind the exchange. Bybit has a hold of Bitcoin OI of $6.8 billion, whereas Gate.io has a hold of $6.5 billion. These exchanges have large volumes, but even still, they lag behind by 30%, the share of Bitcoin, and 31%, that of Ethereum OI in Binance. Exchange has a strong lead in both markets.
Source: X
Exchange Market Credibility
The massive open interest in the exchange testifies to the credibility of the platform. The exchange is also quite popular among traders because it charges low fees, provides a quick execution speed, and offers large leverage. These capabilities have enabled exchange to keep the highest capital pool in the perpetual futures market of Bitcoin. The exchange maintains a convincing lead against other platforms.
The crypto exchange has traditionally been the largest in Bitcoin OI. In early 2024, the OI on exchange Bitcoin positions reached $4.2 billion. That figure had increased to $9.8 billion by the end of the year. The increase in the exchange indicates the confidence that traders are putting in their capability to execute big trades.
