13-8-2025 – Ethereum contract holdings across the network have fallen to 13.6922 million ETH, down significantly from 15.32 million ETH in late July, according to data from Coinglass. This 10.6% decline highlights a shift in market dynamics, with spot market activity likely driving recent price movements. The reduction in contract holdings, which represent Ethereum locked in futures and derivatives, suggests traders are scaling back leveraged positions. This could reflect caution amid volatile market conditions, as Ethereum’s price has faced downward pressure, recently hovering around $3,611.90, per CoinMarketCap data.
The drop aligns with broader market trends, including a 9.84% decline in Binance’s Ethereum reserves, as reported in its August Proof of Reserves. Analysts note that spot-driven selling, rather than derivatives liquidations, is shaping current price action, indicating a more stable but less speculative market environment. This shift may have implications for Ethereum’s ecosystem, particularly as over 35 million ETH—28% of its circulating supply—is now staked in its proof-of-stake network, reducing liquid supply on exchanges.
