Ethereum Price Holds Above $2600 as Futures Activity Continues to Dominate

The Ethereum price has reclaimed and is holding above the $2,600 zone, keeping the next major target of $3,400 firmly in focus.

This breakout was confirmed when Ethereum broke through the liquidity area and began consolidating above it.

However, the on-chain numbers reveal a concerning trend - Binance futures activity continues to dwarf spot trading, with the spot to futures volume ratio standing at 8% as of October 1.

This divergence is hard to ignore, according to analyst Amr Taha, and raises questions about whether the breakout can continue while futures dominate Binance's trading mix.