Odaily Planet Daily News: On-chain data analysis agency CryptoQuant published an analysis of the CEX leverage risks in the bull market. Despite a significant increase in open contracts this year, Binance still maintains a strong reserve among major exchanges, with its reserves of Bitcoin, Ethereum, and USDT far exceeding its open contracts. Binance also reported the lowest and most stable leverage ratio among major exchanges, with a leverage ratio of 12.8 in December 2023, slightly rising to 13.5 in December 2024, along with Bitcoin open contracts expanding 2.6 times (increasing from $4.45 billion to $11.64 billion), highlighting Binance's ability to manage market volatility and cascading liquidations. Additionally, OKX also maintained a low leverage ratio.