CryptoQuant: Binance unpositioned squaring contract breaks through $11.70 billion, reaching record high

CryptoQuant tracking data shows that Binance's unpositioned squaring contract (OI) reached an all-time high, breaking through $11.70 billion. The unpositioned squaring contract remained above the 50-day moving average, further confirming the upward momentum of the market. The derivatives market has played a crucial role in driving this upward trend, indicating a very high level of interest and participation in cryptocurrencies.