Ethereum Supply on Binance Hits 7-Month Low, Price Impact Observed

CryptoQuant reports that Ethereum's balance on Binance has decreased to its lowest level in seven months. The decline began post-June and July peak, suggesting a shift of coins to private wallets. This trend may indicate investor accumulation and holding, reducing market pressure.

Ethereum supply on Binance is declining since mid-year.
The current low is the lowest since last May.
This behavior is considered bullish for the medium to long term.
Current ETH price: $3,577.08, with a 1.2% increase over 24 hours.
Price drop aligns with the reduction in exchange supply.

Traders took profits in September; some are waiting for re-entry opportunities, while others continue to buy the dip.

Bitcoin Hyper (HYPER) emerges as a notable project amid Ethereum's price recovery. It's a Layer-2 BTC solution attracting retail investors for its high-risk, high-reward potential.