Binance ETH Reserves Fall 37% as Supply Hits Decade Low

TL;DR

• Ethereum reserves across tracked exchanges fell to approximately 14.5 million ETH on November 2, returning to levels last seen in 2016 after a 58.6% decline from the 2020 peak.
• Binance reserves dropped from roughly 4.9 million ETH at their 2025 peak to 3.08 million, a 37.1% reduction of 1.82 million ETH.
• CryptoQuant says lower exchange balances reduce readily available spot supply, potentially easing sell pressure if buying demand strengthens materially.

Ethereum reserves on centralized exchanges fell to approximately 14.5 million ETH on November 2, returning to levels last observed in 2016, according to CryptoQuant data. Binance showed an especially sharp contraction, with its holdings falling to 3.08 million ETH. Binance’s Ethereum reserves are now 37.1% below their 2025 peak, putting fresh attention on Binance as exchange-held ETH continues shrinking across the market.

Ethereum Exchange Supply Returns to 2016 Levels

Across all tracked exchanges, Ethereum reserves have dropped from roughly 35 million ETH at their 2020 peak to 14.5 million ETH. That represents a decline of about 20.5 million ETH, or 58.6%, leaving less than 42% of the former peak balance on trading platforms. The latest reading places exchange-held Ethereum back in territory not seen for roughly a decade, extending the multi-year decline in ETH exchange supply.

Binance mirrors that broader contraction. Its Ethereum reserves reached approximately 4.9 million ETH at their 2025 peak before falling by 1.82 million ETH to the current 3.08 million. The exchange now holds around 21.2% of total tracked exchange reserves, while approximately 11.42 million ETH remains across other platforms. Binance has therefore lost more than one-third of its peak 2025 ETH inventory, deepening a trend previously reflected in falling Binance ETH reserves.

The declining balances reduce the amount of Ethereum immediately available for spot selling. CryptoQuant noted that lower exchange reserves can ease potential sell-side pressure, although the metric alone does not establish where prices will move next. Shrinking exchange supply creates a tighter liquidity backdrop rather than guaranteeing an Ethereum rally, consistent with the market implications surrounding lower tradable ETH supply as coins increasingly sit outside tracked trading venues.

CryptoQuant added that sustained or renewed buying demand could have a stronger upward impact when fewer coins are immediately available on exchanges. That relationship remains conditional on demand actually materializing, making the reserve decline a structural liquidity signal rather than a standalone price forecast. The key market variable is whether buying demand strengthens against an increasingly limited pool of exchange-held ETH, while the latest 14.5 million ETH reading extends the broader contraction in Ethereum exchange balances. For now, the data show a substantial reduction in immediately tradable inventory, with Binance contributing a notable share of the broader contraction visible across centralized exchanges today across markets.