According to ChainCatcher's message, the on-chain data analysis institution CryptoQuant published an analysis on the leverage risk of CEX during the bull market. Although the size of open interest contracts has increased significantly this year, Binance still maintains strong reserves among the major exchanges, with its Bitcoin, Ethereum and USDT reserves far exceeding its open interest contracts.
Binance also reported the lowest and most stable leverage ratio among the major exchanges, with a leverage ratio of 12.8 in December 2023 and a slight increase to 13.5 in December 2024. Additionally, the expansion of Bitcoin's open interest contracts by 2.6 times (from $4.45 billion to $11.64 billion) highlights Binance's ability to withstand market volatility and chain liquidation. Furthermore, OKX also maintains a relatively low leverage ratio.
