NewsBTC
Mar 27, 2026 upd. 9 Jun

$2.3B ETH leaves OKX and Binance this quarter, supply shrinks

2 min

OKX pulls $1.67B in ETH. Binance posts two $300M outflows. ETH holds $2,000.

A CryptoQuant report flags the largest single ETH withdrawal in the period: $1.67B moved off OKX on March 22. Binance showed two >$300M outflows on February 5 and 7.

  • $1.67B outflow from OKX on Mar 22 source
  • $300M+ outflow from Binance on Feb 5 source
  • $300M+ outflow from Binance on Feb 7 source

Three large withdrawals. Two venues. One direction.

When coins leave exchanges, they often move to cold wallets, staking, and custody. The sell-side pool thins. Sensitivity to buy-side demand rises. Exchange ETH supply sits near multi‑year lows as staking hits records, tightening the float while price holds a key level.

Ethereum Exchanges Netflow | Source: CryptoQuant

Ethereum still trades above $2,000, but the trend remains down in the near term. The chart shows a six‑month decline from a ~$4,100 September 2025 peak, a February drop to $1,770, and price below the 50‑, 100‑, and 200‑day MAs. $2,000 is the line. Below it, $1,770 comes back into view.

ETH price vs key moving averages | Source: TradingView