Binance ETH Open Interest Jumps To $7.1B As Ethereum Breaks Above $3,000 In Early 2026

In the opening days of 2026, Ethereum climbed decisively above the $3,000 resistance level, with its spot price moving past $3,100. According to analyst Amr Taha, ETH open interest on Binance increased from about $6.2 billion to around $7.1 billion, a roughly 12% daily rise that signals a wave of new, largely long positions. Taha views the move as leverage-driven, warning that the short squeeze and rising funding rates could create both opportunity and heightened downside risk.