CryptoQuant investigated the sensitivity of Binance and other centralized exchanges to liquidity risks. As the cryptocurrency ecosystem trades at a high premium, exchanges require significant liquidity to meet increasing demands. The research highlighted Binance and OKX as platforms that should be monitored closely.
Binance’s Prominence Among Centralized Exchanges
According to CryptoQuant, the leverage levels of leading centralized exchanges were analyzed. This study evaluates how exchanges support their liquidity, default risks, and the trading activities of cryptocurrency reserves. The analysis also includes calculations of leverage ratios to predict the exposure of traders.
The results indicate that Binance stands out as an exchange with strong reserves. Despite significant growth against increased open positions this year, Binance manages to maintain its reserves. According to CryptoQuant’s report, reserves of Bitcoin 
$97,248, Ethereum 
$3,366, and USDT comfortably surpass the open interest. In December 2023, Binance reported the lowest and most stable leverage ratio at 12.8 among top exchanges, which slightly increased to 13.5 in December 2024.
“The reserves of Bitcoin, Ethereum, and USDT easily exceed open positions. Binance reported a leverage ratio of 12.8 in December 2023, the lowest and most stable among major exchanges, which slightly increased to 13.5 in December 2024.” – CryptoQuant Report
The report also shows that the open interest in Bitcoin on the platform has increased by 2.6 times (from 4.45 billion to 11.64 billion dollars), indicating that the exchange can manage unexpected liquidations. Smaller exchanges like OKX also maintain low leverage ratios.
Centralized Exchanges and FTX
CryptoQuant also evaluated exchanges like Gate io, Bybit, and Deribit. However, the report notes that these platforms have the highest leverage ratios in the market, with open positions in Bitcoin and Ethereum exceeding current reserves. The analysis addresses the impact of high leverage trading, which was a primary factor in FTX Derivatives Exchange’s collapse. This report may assist traders in managing their risks on exchanges.
Meanwhile, FTX is currently in the final stages of its bankruptcy process. As previously reported, FTX announced plans to begin creditor payments on January 3. Refunds are expected to be completed by March 3.
CryptoQuant’s research confirmed Binance’s liquidity reserves within a high-leverage trading environment.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
