Ethereum balances on Binance just fell to their lowest since May, CryptoQuant data shows. As exchange supplies and prices cool from late-summer highs, traders are shifting coins off-exchange while analysts flag fresh accumulation zones.
Ethereum supply on Binance hits lowest since May as outflows persist
Data from CryptoQuant shows Ethereum’s exchange supply ratio on Binance fell to 0.0327, the lowest level since May 2025. The ratio has trended lower since mid-year after brief peaks in June and July, pointing to steady withdrawals from the exchange.
Ethereum Exchange Supply Ratio. Source: CryptoQuant
As coins leave Binance, available liquidity for selling shrinks. That shift often signals accumulation in private or cold wallets, which can reduce near-term sell pressure. At the same time, Ethereum’s price reached consecutive highs near $4,500–$5,000 in August and September before easing to about $3,500 now, suggesting traders took profits and then moved holdings off-exchange.
However, a tighter float alone doesn’t guarantee gains. If demand stays weak or on-chain activity slows, price could move sideways or slip despite lower exchange balances. Conversely, if risk appetite improves, the thinner supply on exchanges could help stabilization and a push higher.
Binance remains the largest ETH trading venue by volume, so its supply trend offers a broad read on market positioning. For now, the data points to a transitional phase marked by outflows and holding behavior. Any shift in macro drivers, network usage, or ETF-related news could act as the catalyst that decides whether this phase ends with a sustained rebound—or more consolidation.
Analyst says Ethereum enters ideal accumulation zone
Crypto trader Michaël van de Poppe shared a chart showing Ethereum entering what he described as “a great area to be accumulating.” His analysis highlights a technical pullback after Ethereum’s strong rally from May to August 2025, when ETH/BTC gained nearly 43%. Since then, the pair has retraced and now trades in a marked support range, which van de Poppe views as an ideal entry zone for long-term buyers.
Ethereum BTC Pair Accumulation Zone. Source: Michaël van de Poppe on X
The chart shows Ethereum consolidating within a grey demand block, with previous resistance near 0.051 BTC turning into potential support. The setup implies a pause in selling momentum, suggesting that buyers could regain control if price holds above this region. However, a close below the identified support could open the way to deeper retracement targets around 0.045 BTC and 0.042 BTC.
Van de Poppe’s comment aligns with broader on-chain signals showing reduced ETH supply on exchanges. Together, these trends suggest that investors may be preparing for accumulation as Ethereum stabilizes after months of profit-taking.
