Amr Taha2026-10-02

Ethereum Jumps 73% as Binance Futures Volume Still Outpaces Spot by 12.5x

Ethereum rose about 73% from late June to October even as Binance’s spot-to-futures volume ratio remained near low levels. The ratio compares Ethereum spot trading volume with futures trading volume on Binance. A reading of 8% means spot volume equals just 8% of futures volume. On June 27, ETH traded near $1,560 while the ratio stood at 6.5%. By October 1, Ethereum had climbed to about $2,700, but the ratio had increased only slightly to 8%. In other words, Ethereum gained more than $1,100 while spot volume remained below one-tenth of futures volume on Binance. The divergence shows that ETH’s strong price recovery was not accompanied by a comparable increase in spot’s share of trading activity. The current reading also contrasts sharply with previous peaks in the ratio. It reached about 45% on April 13, 2026, before ETH subsequently fell roughly 36%, while a much higher reading of 114% on November 14, 2025 was followed by a decline of about 45%. Those episodes do not establish that a high ratio causes price declines, but they show that stronger spot volume relative to futures has not necessarily coincided with stronger subsequent price performance.