Ether Withdrawals Hit a Three-Year High as $1.23 Billion Exits Binance

Binance saw $1.23 billion leave in one week

Binance, the largest cryptocurrency exchange by trading volume, recorded $1.23 billion in net outflows during the week beginning June 29, 2026. That marked a 207% increase from about $400 million a week earlier. Binance handles more spot trading than any other venue, so large flows there draw close attention from analysts. Net outflows measure the balance of assets that leave an exchange once deposits are subtracted. A rising number means users move more funds off the platform than they add. Monthly net outflows from Binance reached roughly $3.2 billion. Exchange-flow data showed that Ether (ETH) leaving the platform drove most of the weekly total, rather than Bitcoin or stablecoins.

Ether withdrawals reached a three-year high

On-chain data showed Ether withdrawal transactions on Binance climbed to their highest level since March 2023. The exchange processed more than 166,000 Ether withdrawal transactions in a single day at the peak. That count marked the sharpest daily withdrawal activity on the platform in more than three years. Large withdrawal counts often signal that holders are moving coins into self-custody wallets rather than preparing to sell. Traders who plan to hold an asset for a long period frequently pull it off exchanges to reduce counterparty risk. The surge arrived as the Ether price rebounded after months of decline.

Outflows spread across several major exchanges

Binance led the outflows, but other platforms lost funds as well. Bitfinex recorded $407.5 million in net outflows, followed by Gate at $214.3 million. OKX and Bybit posted $87.1 million and $78.4 million respectively. Analysts track exchange balances because falling reserves can tighten the supply of coins available to trade. Two venues moved against the trend. Crypto.com drew $63 million in net inflows, and HashKey Exchange gained $53.3 million over the same period. The split shows the withdrawals concentrated on the largest venues rather than spreading evenly.

Ether traded near $1,760 at publication

Ether traded at $1,761.94 at the time of publication, up 11.45% over the past seven days (CoinPaprika, 5 July 2026). The token still sat about 64% below its record high of $4,946, reached in August 2025. Bitcoin (BTC) rose 4.3% over the same seven-day window and traded near $62,925. The two windows tell different stories. A short-term bounce ran against a much deeper drop from the 2025 peak, which helps explain why some holders chose to accumulate. Ether has recovered part of that loss over the past week.

Analysts pointed to regulation and positioning

Analysts linked the exchange outflows to regulatory uncertainty around the European Union's Markets in Crypto-Assets Regulation (MiCA) and to short-term market positioning. MiCA sets licensing and compliance rules for crypto firms operating in the bloc. Some observers read the withdrawals as accumulation, with holders shifting Ether off exchanges near the $1,500 level. These explanations remain interpretations of on-chain flows, not confirmed causes.