Binance Leads ETH Buy-Side Dominance Amid Mixed Exchange Sentiment

Ethereum (ETH) is currently trading at approximately $2,715.53, with notable activity in derivatives and spot markets across major exchanges. On Binance, the perpetual buy orders are significantly higher than sell orders, with a net buy imbalance of about $115.43 million. The perpetual buy side stands at $5,933.25 million, while the sell side is at $5,817.81 million. In spot trading, Binance shows a smaller but still positive net buy of $14.48 million, with buy orders at $762.97 million and sell orders at $748.48 million.

In contrast, Coinbase’s spot market leans slightly toward sell orders, with a net sell imbalance of $35.42 million. Buy orders on Coinbase are $866.47 million, compared to sell orders of $901.89 million. Meanwhile, OKX’s perpetual market shows a strong sell-side dominance, with net sell orders totaling $846.54 million. Buy orders on OKX are $1,585.16 million, while sell orders reach $2,431.7 million. Hyperliquid also shows a slight sell preference, with a net sell imbalance of $47.73 million.

Overall, Binance’s perpetual market exhibits the most substantial buy-side liquidity among the exchanges analyzed. This contrasts with the sell-side dominance observed in OKX’s perpetual and Hyperliquid’s spot markets. The data suggests varied market sentiment across different platforms, with Binance showing stronger bullish tendencies in its perpetual contracts.