Ethereum Supply on Exchanges Hits a Decade Low: Is ETH Preparing for a Major Move?

Exchange reserves of Ethereum tracked by CryptoQuant fell to about 14.5 million ETH as of November 2, a level last seen in 2016. That is down from a 2020 peak of roughly 35 million ETH, meaning about 20.5 million ETH, or 58.6%, has left tracked exchanges. Binance’s reserves dropped to 3.08 million ETH, down about 1.82 million, or 37.1%, from a 2025 peak of 4.9 million; it now holds about 21.2% of total exchange reserves. Separately, US spot Ethereum ETFs recorded $1.61 billion in October outflows, their worst month since launch and above the prior $1.42 billion record last November, SoSoValue data showed, with $139.8 million withdrawn on November 2.