ChainCatcher message, on-chain data analysis agency CryptoQuant recently analyzed the CEX leverage risk during the bull market. Although the open interest has significantly increased this year, Binance still maintains strong reserves among major exchanges. Its reserves of Bitcoin, Ethereum, and USDT far exceed its open interest, demonstrating its robust financial condition.

Binance also reported the lowest and most stable leverage ratio among major exchanges, at 12.8 in December 2023, slightly rising to 13.5 in December 2024. This indicates that Binance has strong capabilities in dealing with market fluctuations and chain liquidations. Additionally, OKX also maintained a low leverage ratio, further enhancing market stability. 📊