📊On-chain data analysis institution CryptoQuant points out that despite the surge in open contracts during the bull market, Binance still maintains a strong reserve among major exchanges, with its reserves of Bitcoin, Ethereum, and USDT far exceeding open contracts. In December 2023, Binance's leverage ratio was 12.8, slightly rising to 13.5 in December 2024, demonstrating its ability to cope with market fluctuations. OKX also maintains a low leverage ratio. What do you think of these exchanges' risk management strategies? Feel free to discuss in the comments!