Binance Ethereum Reserves Drop to Six-Month Low Amid Record Withdrawal Activity

Binance's Ethereum reserves have dropped to a six-month low of 3.47 million ETH in early October 2026, marking an 11.5% decrease from August levels of approximately 3.92 million ETH. The decline followed a record day of over 320,000 ETH withdrawal transactions on October 6, pointing to user shifts toward self-custody or staking. This drawdown occurred alongside an ETH market decline of 10% to 11% over three days and eight straight days of US spot ETF outflows totaling $580 million, though analysts note high transaction counts could also reflect internal rebalancing.