Crypto
Binance ETH Perpetual Futures Show Significant Sell Pressure
The Ethereum price hovered around $2,694.32 as per Liquid24/7.xyz's monitoring of market data. Binance's perpetual futures market saw a significant imbalance in sell orders, with nearly $93.36 million in net sell pressure.
On the other hand, OKX's perpetual futures market experienced a more balanced order book, with buy and sell orders almost at par, resulting in only $300,57 thousand in net buying pressure.
Hypervolume on Binance's perpetual futures market indicates that big trades could lead to bigger price swings due to the relatively thin trading volume.