Ethereum futures trade down 17% as Binance captures 121% growth since April

Ethereum futures volume fell by about 17% across major centralized exchanges between August 1 and August 5, dropping from $14.3 billion to $11.8 billion. Binance was the exception, with its Ethereum futures turnover rising roughly 121% from April levels, expanding its share of global ETH futures to a dominant position.

At the same time, the estimated leverage ratio for ETH derivatives on Binance hit a record 0.65, up from the 0.20‑0.30 range seen during the 2022 bear market, indicating growing risk of liquidation cascades. Institutional activity remained strong, with Purpose Investments staking 42,000 ETH (about $80 million) and the Ethereum Foundation moving 578 ETH to a new Gnosis Safe proxy, underscoring long‑term conviction despite heightened short‑term derivative risk.