On the 17th, CryptoQuant analyst Darkfost pointed out that the Estimated Leverage Ratio (ELR) of XRP on Binance has decreased to 0.16, reaching one of its lowest levels since November 2024. The ELR is an indicator that shows how much unsettled derivative products (such as futures and perpetual futures) are accumulated against the exchange's holdings. A lower value indicates lesser leverage usage...
