Binance Open Interest (OI) has reached a new all-time high (ATH) of $8.3 billion, marking a 10.24% increase in the past 24 hours. This significant growth positions Binance as a major player, accounting for approximately 35% of global futures positions, with total OI across all exchanges at $23.3 billion.

Monitoring Binance's on-chain data is essential for gaining insights into market trends. The recent ATH in OI suggests potential market volatility. A sharp increase in OI, especially over 3% within a day, often indicates forthcoming liquidations in the futures market.

Understanding these dynamics is crucial for anticipating major market movements and preparing for potential volatility.