Ethereum Exchange Reserves Drain 11% on Binance as Spot Volume Halves
- —Binance ETH reserves dropped 430,000 coins to 3.47 million, down 11%
- —Spot volume outside Binance fell from $4.98 billion to $2.30 billion
- —Binance ETH open interest down 4.7% over 30 days to about $6.1 billion
- —Ethereum staking rate sits at 36.1%, near its historical peak
Why it matters: Falling exchange reserves usually signal accumulation, but a 53.6% drop in spot volume points to weak demand, leaving the ETH outlook ambiguous.
Source: BlockchainReporter