Ethereum Supply Tightens As Staking And Outflows Hit Record Highs

Binance’s Ethereum reserves are sitting at their lowest point since 2020 — and that’s just one piece of a much bigger picture. Across the board, Ethereum held on exchanges has fallen to its lowest level since 2016, a shift driven by back-to-back withdrawals and a staking surge that is pulling coins deeper out of circulation. Related Reading: Bitrue Says XRP Should Already Be At $10, Traders Are Betting It Gets There A Wave Of Withdrawals Across Major Platforms On March 22, crypto analyst Amr Taha flagged a $1.67 billion ETH withdrawal from OKX. Binance also recorded two separate outflows topping $300 million earlier in the quarter. Those moves didn’t happen in isolation. Data from analyst Arab Chain show that roughly 31.6 million ETH left major exchanges in February alone — the biggest monthly outflow since November. Binance accounted for about 14.45 million ETH of that total, close to half. OKX followed with around 3.80 million ETH, and Kraken recorded roughly 1 mill